After falling into lowest level in 100 years According to a report by the Rosario Stock Exchange, meat consumption in 2021 will recover in 2023.
The entity estimates that the total consumption of beef, poultry and pork may be approx. 115.2 kg per person in 2023 will represent an increase in 4.2% Compared to 2022.
Thus, the level of consumption will approach that of 2017. Report shows that in 2023 each resident will consume a total of 4 and 3.4 kg Above average of last 5 and 10 years respectively.
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Regarding the composition of the meat diet of the average Argentine, BCR elaborated:
- 46% beef
- 39% poultry meat
- 15% pork.
“The proportion of bovine meat would have increased by 2.3 per cent in 2022 compared to 2019, approaching the level of 2019,” the entity said.
Prices and purchasing power
On the other hand, takes into account the institution’s report The average gross wages of the salaried sector, which would be enough to buy 163.5 kg of roast during this year.
“This data indicates a recovery from the relative bottom in 2021, when The purchasing power of the salary was 134 kg, And this may be one of the explanatory factors of the increase in meat consumption that has been experienced this year”, he explained to the unit.
However, and even with a panorama of possible improvement, from the BCR they warn that “despite short-term improvements, In the case of meat, the purchasing power of wages is still about 10 kg less than the average of the last 10 years.
Similarly, he remarked that “this indicator gives an idea of purchasing power in the context of meat, but it overestimates it in view of It is about gross remuneration and not about net remuneration” and specified that “only the private salaried sector is being considered, excluding monotributists, self-employed workers and public sector salaried employees.”
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Regarding the prices of the type of meat, from the Rosario institution they elaborate that beef has become relatively cheaper since 2021, in the case of a mixture of chicken and pork: while in 2021 you can buy 2.1 kg of a mixture that costs 1 kg Roasted has come to the fore, in 2023 this amount is reduced to 1.9.
however, It can be confirmed that beef is still more expensive than the average of the last 10 years, Which is 1.7 kg.
Meanwhile, meat in May, after several months on the rise, fell 2.62% and 12.9 percentage points below the rest of the food average, Which shows it may still have a way to go in price, indicated LCG Consultancy.
The analysis explained that “purchasing power in terms of beef has improved over the past two years, both because of its correlation with wages and with other meat prices, which is why its relative share in consumption has increased. ”
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In turn, he indicated to the Stock Exchange that “if the magnifying glass is removed and a longer period is observed, such as the average of the last 10 years, it is observed that the consumption of beef has decreased compared to alternative products as a result of the low purchasing power of wages and the relative cheapness of chicken and pork.
Beef consumption in Argentina in relation to other countries
Despite the fact that per capita beef consumption is in close to historic lowsBCR highlights this Argentina is still the world’s main consumer of beef per capita.
In 2023, per capita consumption is projected to reach 53.1 kg, surpassing the two countries that remain on the podium: Uruguay and the United States, where the average resident will consume 43 and 37 kg, respectively. It is followed by Brazil (35.3 kg), Israel (27.2 kg), Chile (26.3 kg) and Australia (25.6 kg).