March 7, 2008

Argentine beef exports halted by 10-percent rise in local prices

Argentina's government halted beef exports anew as it tries to cap local prices which have lately risen to another 10 percent this year on limited supply, reports said.

Since 2005, Argentina imposed tight export rules to ensure domestic supply and lower the skyrocketing cost of beef to local consumers.

The country¡¯s latest tightening of export rules is projected to worsen the low the supply in EU and Russian markets, after recent fall of Brazilian beef exports.