Argentina’s beef export sector has reached new heights in 2024, with record sales during the first nine months of the year, as detailed in a report from the Ministry of Economy’s Agriculture, Livestock, and Fisheries Secretariat. From January to September 2024, Argentina’s beef exports totaled US$ 2.122 billion, marking the highest level in 57 years. The country exported 699,987 tons of beef, setting a new benchmark for export volumes.
Record-Setting Growth Across Key Markets
Several key markets contributed to this impressive performance. The United States saw the most significant growth, with beef exports to the U.S. up by 46%. Other major destinations included Chile, with a 21% increase, Israel (up by 11%), the European Union (up by 7%), and China (up by 4%). The growth in exports to countries like Mexico, Brazil, Russia, Canada, and Malaysia also played a crucial role, accounting for 99% of Argentina’s beef exports.
Export Breakdown: Chilled vs. Frozen Cuts
In terms of product types, 16% of Argentina’s beef exports were chilled cuts, while the remainder consisted of frozen bone-in and boneless cuts. This year, the market for chilled beef expanded to 31 destinations, with one new market added to the list. Meanwhile, the market for frozen cuts saw a notable increase, with exports growing from 31 destinations in 2023 to 44 in 2024.
Cattle Slaughter and Domestic Consumption
Between January and September 2024, the number of cattle slaughtered in Argentina reached 10.22 million head, a slight increase from the average of 9.9 million head per year between 2017 and 2022. The output of bone-in beef also surpassed previous years’ figures, with only 30% of the beef produced being retained for the domestic market. This underscores the country’s growing role as a leading beef exporter, with the vast majority of production being directed toward international markets.
Outlook for Argentina’s Beef Industry
Argentina’s beef export performance in 2024 highlights the ongoing strength of its cattle industry and the increasing demand for Argentine beef around the world. With growing shipments to a diverse range of countries, including North America, Europe, the Middle East, and Asia, Argentina is consolidating its position as one of the world’s top beef exporters.
This strong export performance is particularly significant for the Argentine economy, where beef remains a cornerstone of agricultural exports. As global demand for high-quality beef continues to rise, Argentina’s beef industry is well-positioned to maintain its growth and export success in the years to come.
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