On Aug. 31, Argentina extended beef export restrictions until the end of October, as it seeks to moderate skyrocketing domestic prices, according to a resolution published in the government gazette.
In May, President Alberto Fernandez’s government placed a one-month suspension on foreign meat sales. In June, it announced a resumption of exports but limited them to 50 percent of last year’s average monthly volumes until the end of August—a deadline now extended by two months.
“In the short term, the tool of limiting sales abroad is essential to guarantee Argentine access to beef in the face of the sharp increase in prices for consumers,” the government said in the decree.
According to the National Institute of Statistics and Censuses in Argentina, inflation reached 51.8 percent year-on-year in July. Argentina is the world’s fifth-largest beef exporter, with 897,500 tons of beef worth $2.7 billion exported in 2020, primarily to China, Chile and Israel.
