ARGENTINA – Argentina’s beef exports have surged to their highest level in 57 years, reaching nearly 700,000 metric tons in the first nine months of 2024, according to official data.
The country’s beef, a key export commodity, has seen growing demand from international markets, particularly from the United States and Chile.
The bulk of the beef shipments, around 70%, are being purchased by China, which continues to be Argentina’s dominant export market.
Despite China’s ongoing demand, Argentina is looking to diversify its beef markets.
In August, the country introduced a new certification program aimed at meeting the European Union’s tougher food import standards, particularly those promoting sustainability and deforestation-free sourcing.
This certification allows Argentina to export beef to the EU under stricter environmental guidelines.
The EU represents a smaller yet significant market for Argentina’s beef, importing around 50,000 metric tons annually, or approximately 7% of its total beef exports, valued at roughly US$500 million.
The introduction of the sustainability certification is part of Argentina’s strategy to protect and possibly increase its share of the European market, which has become more challenging due to evolving EU regulations.
In a related move, Argentina’s government has reduced the export tax on beef from 9% to 6.75%, effective.
This 25% tax cut, which aligns with a campaign promise by President Javier Milei, is intended to support the agricultural sector by increasing global sales and raising the income of local producers and processors.
Although China still consumes the majority of Argentina’s beef, the country’s adjustments to EU regulations and export tax policies indicate a shift in strategy as it aims to expand its global beef market presence, while keeping its leading position in China.
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