The Argentine government of President Alberto Fernández has announced all meat exports will be banned for the next 30 days in an attempt to slow down inflation as domestic prices went up 20% owing to foreign demand.
Argentine meat processing plants will invest US$ 187 million in a bid to increase exports from the country by 33% over three years to 1.2 million tons per year, the head of a local trade group said on Monday during a conference with government officials.
China has not approved any new Brazilian meat plants for export this year because of the coronavirus pandemic, an official at Brazil’s Agriculture Ministry said, adding that all approvals were on hold until the crisis eases.
Export sales by Brazilian meat processors lagged last year as trade bans and a domestic truckers’ strike weighed on their ability to serve major customers like Russia and the European Union, according to data released by trade group ABPA.