By Benjamin Mejias
(Reuters) -Argentines are once again chowing down on beef, as an economic turnaround has allowed them to fork over more for steaks, a report from the Rosario exchange said on Friday.
The domestic beef market has logged an uptick as wages soar past inflation, the exchange said. Average salaries for registered workers jumped 62.5% in the year to May 2025.
Consumer inflation was contained at 39%, although beef prices rose at a steeper 59% over the past 12 months.
While still a strain, the inflation rate is a significant drop from the triple-digit annual price increases of the recent past. Austerity policies of libertarian President Javier Milei’s have helped cool inflation.
The bump in purchasing power went directly to the dinner table, according to the exchange. Consumers in the South American country went from eating an average of 47.6 kg (104.9 lb) of beef in the first six months of last year to 50.2 kg (110.7 lb) in the same period of 2025.
“As inflation begins to ease and allows the consumer’s pocket to loosen up, albeit slowly … beef consumption tends to recover the place of preference it has historically occupied within the local consumer’s shopping basket,” said the study.
The increased domestic beef consumption so far this year absorbed a supply glut, as exports fell 19% by volume, hurt by a volatile exchange rate, the report said.
“The question going forward is how long (local) consumers will be willing to accept the increased supply without a price adjustment,” the exchange said.
The country is famed for its beef-eating culture, with steakhouses and asado barbecues a frequent dining option.
Argentines had tightened their belts last year due to the high inflation, a recession and rising poverty and unemployment, turning from beef to cheaper meats.
(Reporting by Benjamín Mejías Valencia; Editing by Kylie Madry and Rosalba O’Brien)
Comments