Argentine: Foreign currency income is expected to fall by 30 percent this year
According to data from the ABC Consortium, beef exports for the month of June 2023 were 70,600 tons and accumulated in the first six months of the year they reached 464,400 tons.
"We come from a good volume of both exports and the domestic market. However, this greater volume does not come with profitability. At the international level, there are depressed prices, and in the domestic market, although consumption grew, the macroeconomic situation, with losses in purchasing power, means that prices are flat", the manager remarked about the situation of the industry.
"The farmer is losing capital. There is a strong delay in the prices of the farm and the cuts if it is measured with inflation in general," he added about the situation of the producer. It should be remembered that only the value of meat in the local market rose 1.5% in June and 71% year-on-year, compared to 6% and 115%, respectively, of general inflation.
This drop in income in meat exports is mainly due to the drop in international meat values, especially the cuts that are exported to China, which represents 70% of total Argentine shipments.
"China has had moments of very good pay and today we are at historical levels, with 50% below. It had a peculiarity that the manufacturing cow that went mostly to Russia was replaced by China", he warned.
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