USA

USDA projects the same beef export volume for Argentine in 2023

Beef

The US Department of Agriculture (USDA) projects that in 2023 Argentina's beef export volumes will remain at the same level as 2022: about 770 thousand tons.

Posted on Sep 27 ,04:54

USDA projects the same beef export volume for Argentine in 2023

The updated forecast on September raised the export projection for 2022 formulated in January from 700 thousand to 770 thousand tons, and increased slaughter from 12.9 million to 13.2 million. The expected production is 3.08 million tons of beef.

For the year 2023, it is forecast that the stock of Argentine cattle will decrease by 450 thousand heads (-8.5%) to 52.95 million heads and the stock of calves will grow by 200 thousand heads to 14.1 million.

China is expected to continue as the main destination for exports, which could represent more than 70% of shipments abroad. In the period January-July 2022, China was the destination of 75% of the exported volume and 65% of the income.

"Despite strong global demand for beef and good prices, government-imposed export restrictions are expected to prevent Argentina from shipping larger volumes," the USDA report said.

According to the Argentine industry, the country has the capacity to export one million tons of beef per year. The record was the year 2020, when beef exports reached 900 thousand tons, a 7% increase compared to 2019. That year the USDA projected that Argentina would export 820 thousand tons.

High world meat prices in 2022 have put Argentina on track to achieve record exports in value terms, but not in volume terms, the US report said.

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