The latest trade data from Argentina shows continued strong growth in its beef as well as other food exports to Russia this September, with frozen, boneless, beef up 375% compared to the same month a year ago.
At the same time, an extreme weather-driven contraction in dairy production has caused Argentina to lose out on potentially higher sales of butter, its top export to Russia in September 2013. Argentina’s total butter exports to all markets were valued at $3,678,019 (FOB value US$) last month, down 72% from $13,207,186 in August, and off 88% from the record-breaking $29,523,720 in September 2013.
The chart below shows how Argentina’s top-ranked exports to Russia by value in September 2013 fared last month. The highlighted products are subject to Russia’s ban on foods from the US, EU, Canada, Australia, and Norway. You can see the complete list of sanctioned HS codes here. Earlier this week, Russia extended its food import ban to include “cattle and swine by-products, meat meals, as well as cattle, swine and poultry fats” from the EU.