The drop in international prices, especially from China, affected the export figures for meat. The June value of US$3,700 per ton is more than US$2,600 below the maximum price recorded in April 2022.
The beef exports In June 2024, the volume reached a volume of nearly 57.1 thousand tons of refrigerated and frozen beef product weight, for a value of around 211 million dollars. The volumes shipped grew by 2.1% and show a slight increase of 2.1%; but the The value obtained shows a decline of (-6.6%).
“In relation to June 2023, the exported volumes are (+11.0%) higher; while the value obtained has been (-4.5%) lower, indicated the monthly report of the ABC Consortium, in the June report.
Looking at the first half of the year, the trend is similar to June, with turnover not keeping pace with volume.. “The cumulative total for the first six months of 2024 reveals that foreign sales of chilled and frozen beef were close to 371.8 thousand tons of product weight, for a value of approximately 1,412.7 million dollars. Compared to the first six months of 2023, export volumes are 13.1% higher; while the value obtained was 0.6% higher,” clarified Mario Ravettino, head of the ABC Consortium.
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Meat export
The ABC Consortium commented that the average export price of chilled and frozen beef was US$3,697 per ton. “This value is 8.5% lower than that obtained in May of this year and is 13.9% lower than the average price for June 2023,” Ravettino explained.
At the ABC Consortium they are aware that a “persistent” downward trend in prices is observed in the main destinations from May 2022 onwards. The June value, which was US$3,700 per ton, is now more than US$2,600 below the peak price recorded in April 2022.
The values are set by Argentina’s main market: China. This country is the main export destination, both for June and for the first six months of the year.
“China accounted for 76.3% of the volumes exported in June 2024; and 76.1% of the accumulated volume in the first six months of the year. The average price of boneless meat sales to China in June 2024 was around US$3,280 per ton, marking a clear downward path from the maximum of US$5,900 obtained in May 2022,” explained the ABC Consortium.
Beef: sales to Europe also fell
Another of the data that emerges from June is the significant drop of 36% compared to May.of boneless chilled meat shipments to Europe. “The effect of the closure of the shipment window for the third quarter of 2024 of quota 481 is observed, added to the end of the 2023/24 cycle of the EU Hilton quota, which could almost exclusively be carried out with air shipments,” explained the business entity.
Despite this, Europe was the third most important destination of the month, behind China and the USA. On the other hand, there was a resurgence of the Russian Federation as a relevant destination for Argentine beef exports. “In June, almost five hundred tons of frozen beef were shipped, at an average value of US$4,900 per ton, which is higher than that received in China for the same tariff item,” concluded the ABC Consortium.
Source: Ambito
