Beef exports rose 110 percent year-on-year in July to 31.800 tonnes, hitting their highest monthly level since 2009, boosted by demand from China and Russia and a weaker local currency, a trade chamber said.
Shipments
Reported revenue from food shipments rose by 49,1% year-on-year in the seventh month of the year, to US$169 million, according to the monthly report of the Chamber of Industry and Commerce of Meat and Derivatives (Ciccra)
«The process of continued recovery of external markets and the significant (real) depreciation of the Argentine peso (which reached a level similar to the average for 2007-2009) are being reflected in the sector statistics," the entity noted in its monthly report.
China, main buyer
In May China expanded the type of Argentine meat that could enter its market, while the Argentine peso, which is going through a financial crisis, has devalued by almost 50% so far this year.
In August, the Beef production in Argentina grew by 6,3% year-on-yearl, to around 264.000 tonnes, while the number of animals slaughtered expanded by 3,5% year-on-year to around 1,1 million heads, Ciccra explained.
Consumption
In its September report, Ciccra reported that between January and August the average consumption of beef per inhabitant was 57,3 kilograms per year in Argentina, a 1,4% above than in the same period in 2017.
Source: Reuters
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