Argentina resumes beef supplies

Argentina plans to resume beef exports, which it banned for 30 days in mid-May this week.

This was announced to the domestic media by the Minister of Industrial Development Matthias Kulfas three days before the end of the EXPORT ban announced in May. Before that, however, details will need to be adjusted to ensure adequate supplies to local consumers. He added that the goal is to secure exports while "well supplying Argentinean consumers". According to him, in the long term, production will also increase for this purpose. When the production volume of five million tons of beef is reached, which is the main goal of the sectoral development plan, three million tons can be guaranteed for the domestic market, and two million tons can be sent for export.

The government of the South American republic banned the export of beef, because it considered it as the reason for the rapid increase in domestic food prices, which is very important for Argentina. The companies were alleged to have entered into speculative transactions and used illegal business practices such as under-billing and tax evasion. The ban created a sensation in the industry. Farmers' associations have warned of financial damage and a loss of image in the global market. The MEAT industry reacted with a strike that lasted several days.