(April 27, Argentine Chinese Media Huang Dong) Despite signs of economic recovery and a 5.7% growth in February, the consumption of major food items such as beef has continued to decline. For those living in poverty, replacing beef with more affordable foods like chicken, pork, noodles, rice, and corn porridge has become a common choice.
It is reported that the prices of major cuts of beef have surged in recent weeks. According to the Argentine Beef Promotion Institute (IPCVA), since the end of March, the price of steak has risen from 9759 pesos per kilogram to 13300 pesos (approximately $11 at the official exchange rate), an increase of 36%; the price of ordinary beef has risen from 7381 pesos to 10100 pesos, an increase of 36%; the price of flank has risen from 10152 pesos to 13400 pesos, an increase of 32%. The price increases for other cuts such as sirloin and tenderloin range between 16% and 28%.
Analysts attribute the rise in beef prices partly to inflation and partly to precautionary increases related to devaluation. In this context, it will become increasingly difficult for ordinary people to afford beef.
Argentina is facing a crisis in mass consumption of food, beverages, and cleaning products, with 16 consecutive months of contraction. According to data from the Argentine Meat and Derivatives Industry Association (Ciccra), domestic beef consumption fell by 2.7% month-on-month and 5.4% year-on-year in March. Historically, the annual per capita consumption is 47.8 kilograms, the lowest in nearly 30 years.
Sales outlets for beef also confirm this decline: supermarket and self-service store beef sales have decreased by 7.1% and 3.7%, respectively. The rising beef prices and declining purchasing power have led many households to reduce their purchases or even remove beef from their menus entirely.
Original article: https://www.toutiao.com/article/7498282785816183359/
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