ALBAWABA - It is expected that Argentinians will consume the largest quantity of beef in five years in 2023, maintaining Argentina's position as the world's largest consumer of beef per capita. These expectations come despite the painful impact of a staggering 109% inflation rate on food prices.
Argentina is known as one of the major producers of beef, with "asado" barbecues being a significant part of the local culinary culture, and steak restaurants dotting the city streets. However, the country has witnessed a decline in beef consumption due to rising prices, leading consumers to turn to cheaper alternatives such as chicken and pork.
Argentina faces one of the highest inflation rates in the world, severely affecting the purchasing power of its citizens. Analysts expect inflation rates in the country to continue rising, reaching 130% by the end of the year.
Nevertheless, traditional "asado" barbecues remain a staple on Argentine dinner tables, and beef consumption is expected to reach 53.1 kilograms per capita this year.
The relative cost of beef in the Latin American country has decreased compared to pork and chicken since 2021, although it has remained high.
The proportion of beef consumption from the total meat consumption has risen to 46% this year, up from 44% two years ago. However, the beef consumption rate is still much lower than the peak reached by the country during the past two decades, which was around 68-70 kilograms per capita.
These statistics highlight the importance of beef in Argentine culture, even with inflation rates at their highest levels since 1991, pushing about 40% of the population into poverty.
