May 21, 2021

Argentina Bans Beef Exports

Country announces 30-day halt amid high food inflation

source: AgWeek

Argentina's government put the official seal on a controversial beef export ban on Thursday, May 20, formalizing the measure unveiled earlier in the week in the country's official gazette and citing hot demand in Asian markets for pumping up prices.

AgWeek reports the South American country, a major grains and cattle producer, announced the 30-day halt on beef exports on May 17 amid high food inflation that has spooked the government ahead of key mid-term elections at the end of the year.

That prompted agricultural producer groups to respond with a planned halt in trading of livestock as tensions built between the powerful farm sector and the Peronist government keen to rein in inflation forecast to near 50% this year.

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