Both the Ministry of Economy and the various economic actors are evaluating the real impact of the new measures that came into force this Monday, with a focus on a dollar differential for the liquidation of exports of regional economies and corn, in the rise of 10 points in the Perception of Earnings for the solidarity dollar (went from 35% to 45%) and the application of the PAIS Tax to the importation of services (except freight) at 25% and 7.5% for all imported goods, with few exceptions.
But in a context of extreme orphanage of dollars in the Central Bank’s reserves, in the Palacio de Hacienda they observe with concern the sharp drop in beef exportsa market that in 2022 closed with external sales for US$ 3,424 million, but that now shows some worrying signs.
In June, meat exports totaled 50,021 tons, according to statistics from the Institute for the Promotion of Argentine Beef (IPCVA), the lowest volume shipped so far this year. In relation to the previous month, the drop is very significant, reaching -23.5% measured in volume, taking into account that in the fifth month of 2023, 65,365 tons had been exported. When measured in values, foreign sales of beef reached 214,808,000 dollars, a contraction of -22.5% compared to the previous month.
Beef exports totaled more than US$3.4 billion last year but are now showing a retraction, which will result in fewer dollars.
There is one piece of information, however, that made exporters smile and that is that the average price per ton shipped reached US$4,294, showing an increase of 1.3% in the month, although it is still 4% below the level reached in April. This is the result of an average FOB price of boneless chilled cuts (the highest quality) of US$8,702 per ton, which offset the average US$4,183 per ton obtained for frozen boneless cuts.
But there is something else, which shows a change in trend in the last year, especially with regard to prices. Compared to June 2022, the meat exports last month they fell 14.9% in volumes, but the fall was deeper in perceived prices.
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The prices “have been lower, (-13.8%), than those registered during the sixth month of 2022 for cooled cuts; and they were significantly lower (-30%) than those of June 2022 in the case of frozen cuts,” indicated the IPCVA.
2023-07-25 15:02:48
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