Argentina suspends meat exports for 30 days after price hikes – Prime Time Zone

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During this period, the government of President Alberto Fernández intends to define a set of emergency measures; values ​​in the domestic market rose more than 60% in April

EFE / EPA / YOAN VALATArgentine President Alberto Fernández also linked the problem to high demand from China

A Argentina announced on Tuesday, 18, the suspension of exports of meat for 30 days. During this period, the president’s government Alberto Fernandez intends to define a set of emergency measures to curb prices in the domestic market, which rose more than 60% in April. Among them are possible restrictions on speculative practices and tax evasions in foreign trade. “We cannot continue to see how meat prices rise without justification. The most impressive thing is that the price of meat grows and consumption drops. It is not that the price goes up because the demand grows. Today we consume the lowest level of meat. And prices are rising steadily. We have to put order, ”said Fernández in an interview with Radio 10. The president also related the phenomenon to the growth in demand for China: 75% of Argentine beef that is currently exported goes to the Asian giant. “What also happened is that as the demand was so great, the international price went up, these prices started to compete with the prices of the domestic market”, he explained. The decision has been controversial and has led agricultural organizations to call for a strike. In addition, since the announcement, the shares of Brazilian slaughterhouses Minerva and Marfrig, which operate in Argentina, have fallen by more than 3%.