Argentina Beef Exports

Argentina Lowers Levy on Beef Exports; Farmers Happy, Overall Policy Questioned

Export Restrictions Loosened After Soaring Foreign Sales

BUENOS AIRES, Dec 9 (Reuters) - Argentina will loosen export restrictions on beef that were put in place in a bid to curb rising domestic prices.

Farmers Welcome the Move, While Policymakers Face Scrutiny

The decision has been met with relief from farmers, who have been pushing for an end to the restrictions. However, critics question the overall policy, arguing that it has failed to achieve its intended goal and has instead hurt producers.

Foreign sales of Argentina's famed steaks and other cuts of beef soared last month to reach their highest level in over two years, according to government data. This surge in exports has put pressure on the domestic market, leading to higher prices for consumers.

The restrictions imposed by the Argentinian government on the volume and type of beef that can be exported were intended to ease this pressure. However, farmers have argued that the restrictions have only served to reduce their profits, while consumers have not seen the benefits.

Argentine officials walked back a temporary ban on beef exports on Tuesday just hours after rolling it out, due to fierce opposition from farmers and exporters. The government had argued that the ban was necessary to ensure domestic supply and control prices, but faced widespread criticism.

Argentina extended beef export restrictions until the end of October on Tuesday stoking tensions between the government and the powerful farm sector, which says the measures are hurting producers.

Argentine farm groups will halt trading of livestock in protest against a 30-day ban on beef exports imposed by the government, the country's main farm lobby group said on Tuesday.

On Thursday May 20 2021 the government of Argentina imposed a 30-day ban on beef exports, citing the need to protect domestic supply and curb rising prices.

The Argentine government's decision to lower the levy on beef exports is a welcome move for farmers, who have been demanding an end to the restrictions. However, the overall policy of export restrictions on beef remains questionable, as it has failed to achieve its intended goal of curbing domestic prices and has invece hurt producers.