Beef consumption in Argentina dropped 14.1 percent in the first seven months of 2024 year-on-year and is at its lowest level in the last 26 years, according to data from a top industry chamber.
A report by the CICRA (Argentine Chamber of Industry and Trade of Meats and Related Products) estimates that from January to July, 1.24 billion tons of beef was consumed, some 205 million tons lower from the same period the previous year.
This fall comes amid a strong recession in Argentina and a steep decrease in purchasing power.
During the first seven months of 2024, 1.77 billion tons of beef was produced (down 8.8 percent annually), which implied a drop in the offered quantity equivalent to 170.66 million tons, said CICRA.
Beef exports, in turn, have amounted to 530.6 million tons so far this year, a monthly average of exports of 76 million.
In July, 1.25 million heads of cattle were slaughtered, said CICRA.
Compared with levels of activity for June, the meat processing industry saw a small monthly recovery, which corrected for the number of working days was a monthly 3.8 percent (the number of holidays in June had a clear impact on the slaughter level that month).
In the meantime, compared with July 2023, beef slaughter had a 3.1-percent drop.
– TIMES/NA
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