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24/10/2006 | Argentina September Beef Exports Surge Despite Limits

Dow Jones Staff

Argentina exported 58,237 metric tons of beef in September, up sharply from 47,077 shipped in August and greater than the 50,797 tons shipped in September 2005, according to the animal and food-inspection agency, Senasa.

 

As measured in dollars, August exports totaled $168.5 million, up from $123.2 million a year earlier.

The increased exports come despite government-imposed export limits designed to control inflation in domestic beef prices.

In March, Argentine President Nestor Kirchner banned almost all beef exports to prevent soaring domestic and international demand from pushing beef prices up. Kirchner eased the ban in May, setting exports from June through November at 40% of shipments during the same period last year.

Last month, the government further relaxed the export limits, lifting the quota on frozen and refrigerated cuts to 70% of 2005 levels.

Argentina has been exporting higher-priced cuts in the face of the export limits.

Top-dollar rump cuts, Hilton Quota cuts, cooked beef and exports based on bilateral agreements with Venezuela and Morocco are exempted.

Last week the government again eased export limits, authorizing the shipment of 5,000 tons of deboned beef per month to Paraguay.

Argentina's top meat exports include fresh beef, chilled boneless cuts, frozen boneless cuts, processed cooked beef and other bovine innards, according to Senasa.

Russia is Argentina's largest market for beef products, with imports reaching $282.6 million during the first nine months of the year. Germany imported $170.8 million.

In recent weeks Singapore, Chile, Uruguay and Angola announced the reopening of their markets to Argentine beef. The countries froze imports of Argentine fresh meat in February after foot and mouth disease was detected in cattle stocks in the northern province of Corrientes.

Dow Jones International News (Estados Unidos)

 


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