2023-06-05 20:16:00
After having fallen to lowest level in 100 years in 2021, meat consumption will recover in 2023, according to a report from the Rosario Stock Exchange.
The entity estimates that the total consumption of beef, poultry and pork might be around 115.2 kg per capita in 2023which would represent an increase in 4,2% compared to 2022.
In this way, consumption levels close to those of 2017 would be reached. The report indicates that in 2023 each inhabitant would consume a total of 4 and 3.4kg above the averages of the last 5 and 10 years, respectively.
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Regarding the composition of the meat diet of the average Argentine, the BCR detailed:
- 46% beef
- 39% poultry meat
- 15% pork meat.
“The proportion of bovine meat would have increased 2.3 percentage points compared to 2022, reaching levels close to those of 2019,” the entity stated.
Prices and purchasing power
On the other hand, the entity’s report takes into account the average gross remuneration of the salaried sector, which during this year would be enough to buy 163.5 kg of roast.
“This data indicates a recovery from the relative floor reached in 2021, when the purchasing power of salaries was 134 kg, and it may be one of the explanatory factors for the increase in meat consumption that has been experienced this year”, they explained from the entity.
However, and even with a panorama of possible improvement, from the BCR they warn that “despite being a recovery in the short term, the purchasing power of wages in terms of meat is still almost 10 kg below the average of the last 10 years”.
Likewise, they remarked that “this indicator serves to have an idea of the purchasing power in terms of meat, but it overestimates it, given that It is regarding gross remuneration and not net remuneration” and they specified that “only the private salaried sector is being considered, excluding monotributistas, self-employed workers and public sector salaried employees, among others.”
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Regarding the values of the types of meat, from the Rosario institution they detail that since 2021 beef became relatively cheaper in terms of the mix of chicken and pork: while in 2021 you might buy 2.1 kg of mix with what 1 kg of roast came out, in 2023 this amount dropped to 1.9.
However, it can be affirmed that beef is still expensive when compared to the average of the last 10 years, which is 1.7kg.
Meanwhile, in May, meat, following several months on the rise, fell 2.62% and is 12.9 percentage points from the average for the rest of the foods, which shows that it might still have a path in the price, they indicated from the LCG consultancy.
The analysis explained that “the purchasing power in terms of beef has improved in the last two years, both because of its relationship with wages and with the prices of other meats, which is why its relative participation in consumption has increased.”
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In turn, from the Stock Exchange they indicated that “if the magnifying glass is moved away and a longer period is observed, such as the average of the last 10 years, it is observed that the consumption of beef has lost ground once morest that of its alternative products as a result of a lower purchasing power of wages and a relative cheapening of chicken and pork”.
Consumption of beef in Argentina in relation to other countries
Despite the fact that the consumption of beef per capita is in levels close to historic lowsthe BCR highlighted that Argentina is still the main consumer of beef per inhabitant worldwide.
In 2023, a consumption of 53.1 kg per inhabitant is estimated, comfortably surpassing the two countries that continue on the podium: Uruguay and the United States, where the average inhabitant would consume 43 and 37 kg, respectively. These are followed by Brazil (35.3 kg), Israel (27.2 kg), Chile (26.3 kg) and Australia (25.6 kg).
LD / lm / ds
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