April 2, 2008

Argentina's beef exports up 41 percent in February
 

Argentina's fresh and processed beef exports increased to 47,929 tonnes in February, up 41 percent from February 2007's 33,993 tonnes, according to the latest information from the country's Agriculture Secretariat.

Hilton quota shipments of fresh and processed beef as well as innards in February reached US$133 million, with an average price of US$2,773 a tonne, up from US$2,462 the previous year.

Russia absorbed 8,235 tonnes while Chile purchased 5,233 tonnes.

The Argentine government has limited beef exports to increase domestic supply, with exports kept to about 40,000 tonnes each month.

Hilton quota shipments to the EU are not included in the restriction.

Beef prices in Argentina, however, continued to go up despite the export limits due to strong demand.