Argentina: Beef Market 2024

Beef Market Size in Argentina

In 2021, the Argentinian beef market increased by 4.3% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption recorded a pronounced descent. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Beef Production in Argentina

In value terms, beef production rose significantly to $X in 2021 estimated in export price. Overall, production saw a pronounced decline. Beef production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

In 2021, the average beef yield in Argentina stood at X kg per head, approximately reflecting 2020. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 1.5%. Over the period under review, the average beef yield reached the maximum level in 2021 and is likely to see steady growth in the near future.

In 2021, approx. X heads of animals slaughtered for beef production in Argentina; which is down by -7.2% compared with the previous year. This number increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the number of producing animals increased by 10% against the previous year. Over the period under review, this number reached the maximum level at X heads in 2020, and then contracted in the following year.

Beef Exports

Exports from Argentina

After five years of growth, overseas shipments of beef (cattle meat) decreased by -9.2% to X tons in 2021. In general, exports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 75%. The exports peaked at X tons in 2020, and then fell in the following year.

In value terms, beef exports totaled $X in 2021. Overall, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by 59% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for beef exports from Argentina, accounting for a 74% share of total exports. Moreover, beef exports to China exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. The third position in this ranking was held by Israel (X tons), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +101.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+1.8% per year) and Israel (+3.5% per year).

In value terms, China ($X) remains the key foreign market for beef (cattle meat) exports from Argentina, comprising 60% of total exports. The second position in the ranking was taken by Germany ($X), with an 8% share of total exports. It was followed by Chile, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +100.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.4% per year) and Chile (+2.4% per year).

Export Prices by Country

In 2021, the average beef export price amounted to $X per ton, with an increase of 11% against the previous year. In general, the export price, however, recorded a deep slump. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Argentina

In 2021, supplies from abroad of beef (cattle meat) decreased by -47.5% to X tons, falling for the third year in a row after three years of growth. Overall, imports, however, showed significant growth. The growth pace was the most rapid in 2018 when imports increased by 4,289% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, beef imports contracted sharply to $X in 2021. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 3,311% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Brazil (X tons), Uruguay (X tons) and Paraguay (X tons) were the main suppliers of beef imports to Argentina, with a combined 99% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +62.7%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Brazil ($X), Uruguay ($X) and Paraguay ($X) were the largest beef suppliers to Argentina, together comprising 98% of total imports.

Brazil, with a CAGR of +45.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average beef import price stood at $X per ton in 2021, surging by 19% against the previous year. Overall, the import price, however, continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by 48% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Paraguay ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Paraguay (+13.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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