MercoPress. South Atlantic News Agency

China absorbs most of Argentina’s beef exports but at lower prices

Argentine beef exports in ten months to October reached 642,000 tons of which 78% went to China

China figures as the main market for Argentine beef, having absorbed in nine months to October 78% of exports, based on data from the ABC Consortium, which represents the country’s largest beef exporters.

 Argentina’s exports of beef totaled 641,900 tons in the first ten months of the current year, (Jan/October) a 14.3% increase compared to the same period in 2023. In terms of revenue, these shipments generated US$ 2.5 billion, a 7.2% increase over the same period last year.

During October, exports reached 68,400 tons of refrigerated and frozen beef, equivalent to US$ 274.3 million. However, this represented a month-on-month decline of 5.9% in volume and 8.4% in revenue, according to the ABC Consortium’s report.

Other significant buyers of Argentine beef include, Israel with 6.7%; United States, 4.7%; Germany 4%; Netherlands 3.8%, Mexico and Italy, 1% each.

Despite China’s dominance as a buyer, the prices paid by Chinese importers for Argentine beef remain low, averaging US$ 3,360 per ton in October 2024. This is a sharp drop from the peak price of US$ 5,900 per ton achieved in May 2022.