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Argentina further eases beef export restrictions

Argentina further eases beef export restrictions

Argentina further relaxed beef export restrictions on Thursday, raising the quota on frozen and refrigerated cuts of meat to 70 percent of what was exported in 2006.
The government banned almost all beef exports in March in an unprecedented effort to prevent rising demand from pushing local prices higher and to hold down inflation in South America's second-largest economy.
Since then, the government has gradually relaxed the ban. Before Thursday's move, exporters had been allowed to ship up to 60 percent of the amount exported in 2006.
Economy Minister Felisa Miceli said local price controls will remain in effect for a dozen of the most popular cuts of beef.
Beef consumption in Argentina is among the highest in the world at more than 60 kilograms (135 pounds) per person annually. The price of meat is a key factor in consumer inflation _ which topped 12 percent last year and is forecast to approach 10 percent for 2006.
Argentina is the world's fifth-largest beef producing nation and has historically been a key supplier to Russia, the European Union and other Latin American countries.


Updated : 2021-10-19 07:46 GMT+08:00