Food and purchasing power: beef consumption fell to the lowest level in 26 years

Beef consumption is at its lowest level in the last 26 years.

According to the latest report from the Chamber of Commerce and Trade of Meat and Derivatives (CICCRA), beef consumption per capita fell by 12.3% between January and September 2024 compared to the same period in 2023, which means 46.8 kilos / year per person on it. average and drop of 6.6 kilos per inhabitant. Document N284b, in a historical perspective, indicated that spending in the period covering the first nine months of the year was at the lowest level in the last 26 years.

In terms of production, CICCRA indicated that it fell 6.4 percent year on year in the first nine months of the year. However, beef exports increased by 7.8 percent compared to the same period in 2023.

In terms of inflation, the Consumer Price Index (CPI) of Greater Buenos Aires rose in September by 3.7%, and the year-on-year change stood at 214%, registering a new slowdown for the fifth month after each other.

The CPI for September showed a price increase of 3.1% month-on-month in the meat and derivatives sector, which was one of the biggest contributors to the monthly increase in fast food and non-alcoholic beverages. . However, “the increase was not due to the prices of the main cuts of beef surveyed (1%), but was due to a significant increase in the prices of whole chicken (5.2%) and box hamburgers frozen (7,5%) )”, said the CICCRA report.

Taking into account the beef cuts calculated by the National Institute of Statistics and Accounts (INDEC), the monthly increases in September were as follows: roast (1.7%), rump (1.3%), butt (1.2%), common mince (0.4%) and shoulder (0.4%). (DIB) ACR