Argentina Repeals 1973 Ban on Livestock Exports, Re-enters Trade
Argentina has repealed its 1973 ban on livestock exports, aiming to rejuvenate its livestock trade under the current administration’s pro-free market policies. The country, known for frozen beef production, faces challenges in a global market affected by prior restrictions and an aging shipping fleet.
Argentina has lifted its 1973 ban on livestock exports, marking its re-entry into the livestock trade after a 52-year hiatus. This decision aligns with the administration led by Javier Milei, which advocates for an economic environment characterized by free choice and competition, supporting private ownership and adherence to free trade principles.
Previously one of the top exporters of frozen beef, Argentina’s meat industry has been pivotal to the nation’s economic development. The Ministry of Economy’s Agriculture, Livestock and Fisheries Secretariat noted the sector’s crucial role in the country’s growth trajectory.
The global livestock shipping industry has faced numerous challenges, leading many countries to impose stringent restrictions. Presently, only about 100 vessels are available for livestock export, many of which have remained inoperative for an extended period, reflecting a significant decline in the fleet’s operational capabilities.
The livestock carrier fleet is aging; the oldest vessel, which celebrated its 60th anniversary last year, exemplifies the outdated nature of many ships in service. Currently, the average vessel in this fleet is approximately 39 years old, highlighting concerns about efficiency and sustainability in livestock transportation.
In summary, Argentina’s repeal of its decades-old ban on livestock exports represents a strategic shift towards bolstering its economic framework centered on free market principles. While the country aims to revitalize its livestock trade, it confronts an industry grappling with operational and ethical challenges globally. The aging livestock shipping fleet further complicates the resumption of exports, emphasizing the need for modernization in the sector.
Original Source: splash247.com
