Argentina cut beef exports by 10%

In January and February, the country benefited from higher world market prices. EXPORT volumes have declined due to government intervention.

And in the first two months of the year, Argentine beef exports reached $481.8 million, up 23.5% from the first two months of 2021. In February, last year's result of $266.6 million was beaten by as much as 41.2%, according to export promotion organization IPCVA. Exports fell 9.7% year on year to 85,355 tonnes in January and February. CHINA imported almost three-quarters of this volume. Higher revenues were associated with rising global prices, especially in February (by 37.8% compared to February 2021).

Prices rose in January and February in all export markets, but to a lesser extent for shipments to the European Union, by 25%. Growth was strongest in Brazil (71%) and RUSSIA (69%). In China, the average price increased by 45.8%. The decline in exports is seen by the government as a success. In May 2021, the authorities imposed export restrictions to contain a sharp rise in domestic beef prices.