Argentina suspends beef exports for 30 days
Published: May 18, 2021 06:23 PM
Argentina, a major exporter of beef in the world with some 819,000 tons sent abroad in 2020, suspended foreign sales for 30 days to combat price ­increases on the domestic ­market, the government said in a statement on Monday. 

"As a consequence of the sustained increase of the price of beef on the domestic market, the government decided to implement a set of measures aimed at regulating the sector, restricting speculative practices and avoiding tax evasion in foreign trade," a statement from the presidency said. 

"During the ­implementation of these measures, beef exports are limited for 30 days."  

Exceptions will be allowed for foreign exports already in progress. 

President Alberto Fernandez told beef industry representatives of the decision during a meeting at the presidential mansion Casa Rosada. 

In 2020, Argentina exported $3.37 billion of beef and cow leather - a 16.5 percent drop compared in 2019 - primarily to China, Germany and ­Israel, according to state statistics agency Indec.

Agricultural exports make up a majority of foreign spending in the country. 

In an interview on Sunday evening as he returned to ­Argentina from a trip to Europe, Fernandez had said he was "worried" about the increase in prices, especially of food. 

"It worries me a lot, because it is inexplicable, there is really no reason, other than the ­increase in consumption, to ­explain the increases that we saw in March and April," he told news channel C5N.