September 29, 2006

 

Argentina further eases beef export restrictions

 

 

Argentina further relaxed beef export restrictions on Thursday, raising the quota on frozen and refrigerated cuts of meat to 70 percent of what was exported in 2006.

 

Earlier in the month, the government had eased exports to 65 percent.

 

The government banned almost all beef exports in March to prevent inflation.

 

Since then, the government has gradually relaxed the ban.

 

Economy Minister Felisa Miceli said local price controls would remain in effect for a dozen of the most popular cuts of beef.

 

Beef consumption in Argentina is among the highest in the world at more than 60 kilograms (135 pounds) a person annually. The price of meat is a key factor in consumer inflation which hit 12 percent last year.