Argentina extends limits on beef exports another two months

Argentina’s government has extended its restrictions on beef exports until the end of October, a politically charged move that’s likely to anger the country’s meat producers. The government in June limited exports of some beef cuts until the end of the year and capped beef exports at 50% of the previous year’s level until the end of August. And that followed a brief ban on exports of beef.

President Alberto Fernandez’s move comes ahead of midterm elections this fall, with the government hoping to curb any price rises for beef that might cost his party more votes. A decree published in the official gazette says, “In the short term, the tool of limiting sales abroad is essential to guarantee Argentine access to beef in the face of the sharp increase in prices for consumers.”

Miguel Schiariti, head of Argentina’s meat industry chamber CICCRA, told Reuters the sector had lost around $100 million in exports during July due to the restrictions, adding that the limits could push prices even higher.