Argentina easing export limits on beef.
Listen to this Article Now
Argentina will ease beef export limits that were put in place to combat inflation but were chastised by meatpackers, the government announced on Thursday following a meeting with industry organizations.
Argentina’s inflation rate is above 50% per year, and the poverty rate is approximately 40%, both of which have pushed center-left President Alberto Fernandez to try to control growing food prices by limiting cattle exports.
Following a meeting with the four largest farming groups, the government announced that export limitations to emerging markets will be lifted, allowing premium cuts to be delivered to Europe and the United States, among other destinations.
However, restrictions will stay in place on Argentina’s most popular cuts in order to keep prices from rising. For the time being, the announcement will put an end to a standoff with the industry, which had recommended a different option to enhance local supply and lower inflation: larger cows.
On Thursday, the sector chamber CICCRA requested that the government enforce a progressive increase in the weight of cows at slaughter, which would boost the volume of meat available for local consumption and exports over time.
Story by : Norvisi Mawunyegah