Argentina has seen a significant drop in beef consumption, the steepest in 30 years, largely due to the decline in purchasing power caused by the country’s soaring inflation. According to the Argentine Chamber of Meats and Derivatives Industry and Commerce (CICCRA), beef consumption in the first quarter of the year reached 499,700 tons, marking a 17.6% decrease compared to the same period in 2023. This represents the largest quarterly fall recorded by CICCRA in three decades.

In March alone, per capita beef consumption was 42.6 kg, a striking 18.5% drop compared to March 2023. CICCRA President Miguel Schiariti explained that the erosion of wages, exacerbated by Argentina’s inflation crisis, is a major factor behind the decline in beef consumption, as many consumers are struggling to afford the country’s staple food.