November 1, 2008
Argentina beef exports likely to fall short of quota
Beef shipments from Argentina for the whole of 2008 may be 170,000 tonnes short of the allowed quota.
For the first 10 months of 2008, Argentine beef exports reached 300,000 tonnes. If exports for November and December are a further 80,000 tonnes, total exports for 2008 would fall short of the allowed quota.
EU importers are offering 30-percent less than August for limited orders. Russian buyers purchase only beef trimmings while the Chilean market has just started.
However, export value to date is about US$1.35 billion, an increase from the same period last year.
There are concerns in the beef trade that Russian importers will place Australian beef as priority and use Brazilian and Argentine beef to make up for supply shortfalls.
The spring has plenty of grass and with 80 percent of beef produced being consumed on the domestic market, there is currently no panic situation.