Argentines Slash Beef Consumption Amid Economic Crisis

Argentines are reducing their beef intake as the nation battles economic challenges. In 2024, beef consumption is forecasted to reach a historic low of 44.8 kg per person, the lowest since record-keeping began. Triple-digit inflation, recession, and poverty are driving consumers towards cheaper meat alternatives.

Beef-loving Argentines are significantly cutting back on their steak intake as the country's economic situation worsens. According to a market report published on Friday, cattle consumption this year is poised to hit a record low. The Rosario exchange, which reports on grains and livestock markets, indicated that Argentina's beef consumption in 2024 will likely total 44.8 kg per person, the lowest since record-keeping started in 1914. Historically, the average consumption has been close to 73 kg.

The South American nation has been severely impacted by triple-digit inflation, a prolonged recession, and escalating poverty and unemployment rates. Libertarian President Javier Milei, who assumed office in December, has introduced stringent austerity measures aimed at curtailing government expenditures. He also lifted the previous administration's freeze on beef prices.

Argentina is internationally known for its robust beef-eating culture, characterized by steakhouses, cattle ranches, and traditional asado barbecues. However, long-term trends reveal a shift among the population towards more affordable alternatives like chicken and pork. In 2024, almost 2 kg of alternative meats can be purchased for the price of 1 kg of beef, the report indicated.

Overall meat consumption this year is predicted to fall by 9% compared to last year's figures, reaching the lowest level since 2011, according to the exchange. As domestic consumption declines, Argentine farmers have been increasing their beef exports. Another report from the exchange showed a 10% rise in export volumes from January to May this year compared to the same period last year.

Despite the decrease in domestic beef consumption, Argentines still consume significantly more beef than Americans, who average 38 kg per year, Australians at 27 kg, and Chileans at 26 kg, the exchange noted.

(Disclaimer: With inputs from agencies.)