Commodities
Milei’s Shock Therapy Sends Demand for Beef to 110-Year Low in Argentina
- Recession exacerbates shift to cheaper poultry and pork
- Wider drive for healthier eating also behind Argentina shift
A butcher cuts beef in Buenos Aires, Argentina.
Photographer: Amilcar Orfali/Getty ImagesThis article is for subscribers only.
Argentina, famous for its chart-topping consumption of beef, has made a surprising pivot toward cheaper chicken as households try to stretch their dwindling paychecks.
Beef demand is forecast to drop below 45 kilograms (99 pounds) a person this year, the lowest in data going back to 1914, according to a report by the Rosario Board of Trade based on government data. That would mark the first time Argentina’s demand for beef is essentially on par with chicken, which has been growing in popularity across the globe.