Argentina hopes new policies could boost falling beef market

Global Business

One of Argentina’s most famous exports is beef. But exports have dropped in recent years, partly due to new domestic policies. President Mauricio Macri hopes that his new measures will help boost agricultural exports.

CCTV America’s Joel Richards reports from Buenos Aires.

Argentina hopes new policies could boost falling beef market

One of Argentina's most famous exports is beef. But exports have dropped in recent years, partly due to new domestic policies. President Mauricio Macri hopes that his new measures will help boost agricultural exports. CCTV America's Joel Richards reports from Buenos Aires.

Argentina is famous for the sheer amount of beef it consumes on average per person per year — more 50 kilograms — among the highest in the world.

But while it was once the third largest exporter in the world, Argentina is now not even the third largest exporter in Latin America, trailing behind Brazil, Uruguay, and Paraguay.

Leaders hope this will change now that restrictions on exports have been lifted, taxes have been lowered, and everything points to the sector picking up once again.

A 14-year ban on beef exports to the United States was dropped last year, and along with new government policies, there is renewed optimism among producers.

While increased exports will help keep small producers in business, producers of all sizes are looking to foreign markets to build up this famous export industry once more.