October 29, 2010

Argentine beef exports halve in Jan-Sep

Beef exports in Argentina during the first nine months of 2010 were back 52% on-year, to 133,973 tonnes swt, despite an 18% on-month rise in exports during September.

The sharp decline in beef shipments for 2010 comes as the combined result of reduced production, soaring cattle prices and the restriction of export certificates by the local government.

High cattle prices and a fall in the local herd have encouraged farmers to retain cattle in 2010, a turnaround from last year's liquidation and resulting high production levels.

Although Russia continues to be Argentina's main export beef market, accounting for 23% of total exports during 2010, its share as a percentage of total exports is down from 36% during the same period in 2009. Exporters are concentrating on other destinations, such as Israel (15% of the total in 2010), Germany (14%) and Chile (10%).