Tuesday, May 18, 2021

Argentina bans beef exports

Argentina has banned beef exports in an effort to stop rising prices, but farmers and ranchers are worried it might last years, not the 30 days the government has officially announced.

Fifteen years ago a ban that was supposed to last six months stayed in place for 10 years and farmers and ranchers say that led to a herd reduction of 12 million cattle.

The beef industry lost 10,000 jobs, they said.

Beef prices have risen 65 per cent in the last year and by 22.2 per cent in the last three months.

With overall inflation rising more than four per cent per month, President Alberto Fern├índez said, ”I have watched with great concern what happened in March and April, and I am not willing to sit idly by. I am very determined to take care of the price issue and put things in order.”