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In February, the price of beef rose 79% to the public, along with the farm's jump for domestic consumption (80%), according to the latest report prepared by the sector of economic information and statistics of the country. Institute for the Promotion of Argentine Beef (Ipcva).

The agency notes that "the February averages indicate an increase of more than 80% for steers, young bulls, heifers and calves, while the value of cows has increased 77% compared to the average of the same month in 2018. " Most of the increase was concentrated on the last three. "Since Christmas, the increases have been 45%," says Ipcva. Fresh chicken was up 6.6% from January and pork up 5.5%. In low-income neighborhoods, increases were higher.

The previous price jump had occurred at the end of 2015, correlated with the rise in the dollar price resulting from the removal of restrictions on the purchase of currencies. "Since then, prices are losing the race against inflation," warns the report of the private entity. However, the commercial openness of the sector, which has left the domestic market neglected, and the 50% devaluation of the peso last year have resulted in a sharp price adjustment since December. "It is clear that the lack of supply is the main factor of increase", justifies the Ipcva report.

Prices for various cuts of beef increased on average by 14.8% in February compared with January. With respect to February 2018 values, the average price of beef was 68% higher, but with peaks of up to 79% of the most consumed cuts. There was also a wide disparity by region. In high-socio-economic neighborhoods, the increase was 16.6% in January and 12.9% in outlets serving average levels. On the other hand, those at the socio-economic level below the price recorded an increase of 17.3%.