He per capita consumption of beef in Argentina it reached 47.2 kilos per person per year, the lowest level in 28 years, according to a report by the Chamber of Industry and Commerce of Meats and Derivatives of the Argentine Republic (CICCRA).
This data corresponds to the period from January to October 2024 and shows a decrease of 11.2% compared to the same period of the previous year.. The figure reflects a considerable drop in consumptionplacing beef well below historical levels.
Prices: how domestic consumption behaved
The impact of inflation and the loss of purchasing power was decisive in the fall in beef consumption. Miguel Schiariti, president of CICCRA, explained that the Beef has been replaced by other options such as chicken and porkmore accessible to consumers. According to data from the Argentine Beef Promotion Institute (IPCVA), the price of beef rose 33% between January and October 2024while chicken and pork experienced increases in 176% and 173% respectively.
The data collected by CICCRA indicate that the recovery in consumer income, key to reactivating the domestic market, would not be reflected until February or March of next year.
The refrigeration industry managed to increase production in October 2024, reaching 290,000 tons of bone-in beef. This figure represented a significant increase in work, which amounted to 1.27 million headsthe highest level in fifteen months. However, domestic consumption continued to decline, with domestic absorption of 1,848 million tonswhich represents a contraction of the 10.2% year-on-year.
The average hook weight of the animals fell 1.1% in October, reaching 228 kilos, a decrease attributed to the increase in the use of young animals during slaughter. Despite these figures, total production in the first ten months of the year reached 2,631 million tonsa contraction of 4.5% year-on-year.
While domestic consumption is declining, beef exports set record figures. During the first ten months of 2024, exports amounted to 784,000 tons of bone-in beefa year-on-year increase in 12%. In September 2024, exports reached 60,200 tonsthe highest figure since the end of 2020.
China continues to be the main destination for Argentine meat, although its share in exports fell slightly to 68.4%. In contrast, countries such as Israel and the United States significantly increased their purchases, with increases of 10.1% and 40.9% respectively.
The average price per exported ton showed signs of recovery in September, with an increase in 8.4% compared to August and a level 0.6% higher than September 2023. However, in the first nine months of the year, the average price remained 7.6% below from the same period last year, mainly affected by the decrease in prices in the Chinese market.
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Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
