Argentina’s Beef Exports Reach 641,900 Tonnes Through October 2024, Up 14.3% Year-on-Year

Argentina’s exports of fresh beef totaled 641,900 tonnes between January and October 2024, marking a 14.3% increase compared to the same period in 2023, according to the Clarín newspaper, citing data from the ABC Consortium, a group representing the country’s largest beef exporters.

In terms of revenue, these shipments generated nearly $2.5 billion (exactly $2.492 billion), a 7.2% increase over the same period last year.

In October 2024, Argentina exported 68,400 tonnes of refrigerated and frozen beef, earning $274.3 million. However, this represented a month-on-month decline of 5.9% in volume and 8.4% in revenue, according to the ABC Consortium’s report.

China accounted for most of Argentina’s total beef exports in October. The chart below shows which were the top ten destinations for Argentina’s beef exports in containers registered at maritime ports from January to September 2024.

Top Beef Export Destinations | Argentina | 2024 | TEUs

Source: DataLiner (click here to request a demo)

Despite China’s dominance as a buyer, the prices paid by Chinese importers for Argentine beef remain low, averaging $3,360 per tonne in October 2024. This is a sharp drop from the peak price of $5,900 per tonne achieved in May 2022.

The ABC Consortium also reported that the average export price for Argentina’s refrigerated and frozen beef reached $4,009 per tonne in October 2024. While this is 2.7% lower than September’s average price, it represents a 6.4% increase compared to the $3,768 per tonne average recorded in October 2023.

Source: Portal DBO

Read more at: https://portaldbo.com.br/carne-bovina-exportacoes-da-argentina-crescem-14-ate-out-24-com-forte-dependencia-da-china/

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