March 31, 2008

Argentina's beef rump and loin prices up 17.3 percent

The average value of Argentina's exports of rump and loin in February went up 17.3 percent from January and 42.5 percent from February 2007 to US$14,437/tonne FOB, according to the World Beef Report.

Exporters have raised prices due to the EU's ban on Brazilian beef and Argentina's self-restriction to its own exports.

Prices are expected to increase again in March while export volumes may decline further as the government delays the issuance of export certificates.

According to reports, Argentina exported 24,481 tonnes swt of refrigerated beef in February, which includes 2,477 tonnes of high quality cuts and 22,004 tonnes of other fresh beef exports.

Germany, the Netherlands, Italy, Russia, Chile, Israel, Venezuela and Hong Kong were the major destinations for Argentine beef.