By Nicolás Misculin
BUENOS AIRES (Reuters) – Argentine farm groups will halt trading of livestock in protest against a 30-day government ban on beef exports aimed at bringing down domestic prices, the country’s main producer groups said in a joint statement on Tuesday.
The South American country’s center-left Peronist government on Monday unveiled emergency measure to restrict exports amid a high inflation rate and rising beef prices.
Argentina is the world’s no. 5 beef exporter and has been increasing sales to markets like China, which has bolstered the country’s ranchers but stoked fears about inflation, especially with poverty levels soaring amid a long recession.
In a statement Argentina’s four main rural associations said they would launch a nine-day halt in livestock trading starting on Thursday to protest the export ban.
The group added that farm producers “reject an export closure that will undoubtedly harm all of Argentina”.
The country is famed for its cattle ranches and sizzling cuts of steak, which are a central part of the local social fabric, with many gatherings of families and friends held around the “parrilla” barbecue grill at the weekend.
However, rising meat costs have come under fierce scrutiny in recent months. Some consumers – already hit hard by three straight years of recession – say they are no longer able to afford beef. Inflation has sapped growth and spending power.
(Reporting by Nicolas Misculin; Writing by Adam Jourdan)
