LatinNews Daily - 17 November 2020

* Argentina’s President Alberto Fernández has announced that the Consorcio de Exportadores de Carnes Argentinas, a group of the country’s main meat exporters, will be making a total investment of US$187m towards increasing beef exports. During a videoconference, Fernández emphasised the importance of the beef production industry in contributing to the country’s recovery from the deep economic crisis which has been compounded by the coronavirus (Covid-19) pandemic. “We must favour industrialised production undertaken with Argentine labour and primary production”, Fernández said, adding that the investment pledged by the Argentine meat packing sector is “important”, as the country must strive to add value to domestic production through exports. A total of nine member companies of the Consorcio will be investing between US$1m and US$41m apiece. This includes a US$30m investment by Frigorífico Rioplatense into expansion works which will allow the meat-packing company to quintuple its daily frozen beef production capacity and almost double its exports by July 2022. 

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