Argentina faces beef boycott

A consumer group in Argentina has called for the public in the South American country to boycott beef for a week in an effort to lower prices.

Beef prices have increased 40-50% since December, said the Association of Free Consumers, which called for the boycott to begin Monday.

The consumer group cited success in a recent boycott of tomatoes, which had risen in price. Tomato prices dropped within days of the boycott, the group said.

Argentina's beef industry is facing a crisis as cattle supplies declined to their lowest levels in 45 years, according to the Argentina Farm Federation.

The Association of Free Consumers said the decline in cattle stock is likely due to sharp increases of livestock slaughter; an acceleration in soy farming with more than 10 million hectares converted from livestock to soy production; and more Argentineans buying beef.

Drought also has decreased the size of available pasture land.

Argentina consumes 68kg of beef per person per year. Despite the high consumption, that is a significant decrease from the 80kg per person per year in the 1970s, said the Farm Federation.

Argentina is the third largest beef exporter in the world, behind Brazil and Australia. But the drastic decline in beef cattle has led to experts and analysts worrying that the country may need to import beef to keep up with high local demand soon.