Historical record set by Argentina in beef exports
In 2019, October was the perfect month for Argentinian beef exporters who have set a new historical monthly record of 95,905 tonnes shipped abroad worth $363 million. China was the main destination for Argentinian beef keeping pace with the demand recorded since the beginning of the year.
During the first ten months of 2019, Argentina exported 666,040 tonnes of beef worth $2.4 billion., of which 329,500 tonnes were shipped to China. The Asian country is followed by Chile and Israel, with smaller volumes. China accounts for 64% of the value in beef exported, followed by Germany (9.4%) and Israel (6.1%), according to IPCVA statistics.
The average monthly exported volume of 2019 stands at 66,600 tonnes, up by 45% to the average monthly volume of 2018 of 46,000 tonnes. Currently, 50 Argentinian plants are allowed to export beef to China but the number could increase in the following months as the Asian country is importing more and more meat to reduce the deficit of pork in the domestic market. At this time, the difference in price between beef and pork in the Chinese market is at 0.6%, allowing consumers to see beef as an alternative for pig meat. As a result, increased demand for beef from China has modified the usual export map for Argentina, which is expected to reduce its presence in traditional markets such as the EU western states, Russia and the Middle East.
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