Beef consumption rose again in November

Despite the increases recorded in prices during recent months, beef consumption grew again in November and confirmed a sustained recovery compared to the historic decline observed in past years. This figure is especially relevant not only because it occurs on the eve of the year-end holidays, a period that is traditionally marked by higher seasonal demand.

According to a report by the Cámara de la Industria y Comercio de Carnes de la República Argentina (CICCRA), between January and November 2.881 million tons of beef were produced, measured as carcass with bone. This figure represented a marginal decrease of 0.5% compared to the same period in 2023, equivalent to just 15,903 tons, which reflects a practically stable level of activity.

At the same time, beef exports contracted by about 10% year-on-year, totaling 779.6 thousand tons. The lower external demand, especially due to the drop in Chinese purchases during the first half of the year, left a greater volume available for the domestic market, which helped support local consumption.

As a result, beef consumption grew 3.4% year-on-year and reached 2.101 million tons in the first eleven months of the year. In per capita terms, consumption rose to 48.3 kilos (106.5 pounds) per inhabitant per year, which implied an increase of 2.3% compared to the January-November 2023 average. This figure confirms a change in trend after the collapse caused by the economic breakdown inherited from Kirchnerism.

In terms of prices, beef showed an average increase of 8.2% compared to October, according to the Instituto de Promoción de la Carne Vacuna Argentina (IPCVA). However, a large part of this behavior is due to seasonal factors specific to the end of the year and to supply imbalances accumulated during years of interventionism, controls, and export bans.

Other animal proteins such as chicken and pork recorded year-on-year increases in line with overall inflation, which reinforces the idea that the price of beef was influenced mainly by supply issues and not by an excessive jump in demand.

Along these lines, the Bolsa de Comercio de Rosario (BCR) indicated that the increase in the price of livestock on the hoof, observed since mid-October, was the main factor that pushed prices at retail counters. Even so, the intermediate links in the sector absorbed part of these increases in order to sustain the level of sales, especially in a key month for consumption.

The rebound in November ultimately reflects not only a seasonal component linked to the holidays, but also an incipient normalization after years of distortions caused by Kirchnerist policies that destroyed cattle stocks and discouraged investment. With clear rules, predictability, and a market without restrictions, consumption is beginning to show signs of recovery.