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    Home > Food News > Food Articles > Export ban, Argentine beef loss exceeds $1 billion

    Export ban, Argentine beef loss exceeds $1 billion

    • Last Update: 2021-09-11
    • Source: Internet
    • Author: User
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    The Economic Research Institute of the Argentine Rural Association (SRA) estimates that due to the restrictions on beef exports by the Argentine authorities , an estimated US$1.
    084 billion in losses have been caused to the livestock and meat industries
    .
     
    The purpose of this restriction is to prevent the rise of beef prices in the local market, which is why they banned exports for one month from May 20
    .
    After that, the government decided that the export volume should not exceed 50% of the 2020 export volume before October 31
    .

     
    The Argentine government reported that several months after these measures took effect, its domestic beef prices have begun to have a positive inhibitory effect, and have even declined in some areas
    .
     
    For the Argentine rural society, they disagree and regret this situation
    .
    In contrast, SRA President Nicolás Pino said that farmers and representatives of the meat industry are dissatisfied with the authorities' approach, so they are considering meeting to formulate a new course of action
    .

     
    According to their data, of the total economic losses, cattle farmers lost 411 million U.
    S.
    dollars and meat processing plants lost 165 million U.
    S.
    dollars
    .
    For workers, it reached 59 million U.
    S.
    dollars; especially in the export sector, it fell by 240 million U.
    S.
    dollars
    .

     
      The head of the SRA asserted that these figures reflect the negative impact on all participants in the production chain, so they see no reason to continue to restrict commercialization
    .
     
      He warned that if the beef export control is extended, the national economy may suffer losses of up to 8 million U.
    S.
    dollars a day
    .

    Beef meat
     
      The purpose of this restriction is to prevent the rise of beef prices in the local market, which is why they banned exports for one month from May 20
    .
    After that, the government decided that the export volume should not exceed 50% of the 2020 export volume before October 31
    .

     
      The Argentine government reported that several months after these measures took effect, its domestic beef prices have begun to have a positive inhibitory effect, and have even declined in some areas
    .
     
      For the Argentine rural society, they disagree and regret this situation
    .
    In contrast, SRA President Nicolás Pino said that farmers and representatives of the meat industry are dissatisfied with the authorities' approach, so they are considering meeting to formulate a new course of action
    .

     
      According to their data, of the total economic losses, cattle farmers lost 411 million U.
    S.
    dollars and meat processing plants lost 165 million U.
    S.
    dollars
    .
    For workers, it reached 59 million U.
    S.
    dollars; especially in the export sector, it fell by 240 million U.
    S.
    dollars
    .

     
      The head of the SRA asserted that these figures reflect the negative impact on all participants in the production chain, so they see no reason to continue to restrict commercialization
    .
     
      He warned that if the beef export control is extended, the national economy may suffer losses of up to 8 million U.
    S.
    dollars a day
    .
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