Argentina halts meat exports to reassess pricing

On Tuesday, the Argentine government declared a 15-day suspension on meat exports to reexamine the pricing structure with local meatpacking firms following the nation’s currency fluctuation exceeding 20 percentage points.

The announcement by the Commerce Secretary came a day after the primary election results highlighted the win of right-wing candidate Javier Milei.

The suspension will remain until a new pricing agreement is finalized.

The government aims to collaborate with producers to address domestic price surges, with the Argentine Meat Exporters Consortium facilitating the dialogue.

The country’s top meat producers currently adhere to the “Precios Cuidados” program, which sets price limits for various products to curb the rising inflation, which now exceeds 115%.

A “TN” television report indicated that beef prices rose by 20% on Tuesday, while young cattle prices surged by 25%.