Argentina: discounts offered on loans to poultry sector

The Central Bank of the Argentine Republic (BCRA) made the decision to expand credit lines to all sizes producers because they are dynamic chains of national economy . Photo: Joris Telders

The Argentinian government announced a 30% discount on public financing for poultry and pig projects to increase national meat production for internal and foreign markets and to reap the economic and social benefits thereof.

According to the Argentina’s Ministry of Agriculture, Livestock and Fisheries, livestock activities have a strategic role in job creation and food supply. “It is pivotal to set financial tools to keep increasing our agro-industrial production, guaranteeing domestic supply and export growth,” said Minister Luis Basterra.

A 30% discount to companies that invest in poultry

The board of directors of Argentina’s central bank, BCRA, decided to offer a 30% discount to companies, regardless of their size, that invest in chicken or pork production.“These sectors have relevant margin to increase their production and contribute to the diversification of meat consumption agenda, in addition to beef, as well as the increase in net exports,” the bank stated.

Creating opportunities across the country

Intensive livestock production plays an important role in the government´s plan to create opportunities countrywide, mainly in the countryside provinces. “These chains are strategic to add value throughout our territory, transform our grains into meat, and for national development through the generation of jobs,” noted undersecretary of livestock and animal production, José Maria Romero.

A significant increase in poultry consumption

Chicken consumption in Argentina has increased 72.9% in the last 20 years. Argentineans consumed 26.6 kg of poultry per capita in 2000 compared to 46 kg per capita last year.

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Poultry an important meat in Argentina

Romero says poultry has become a pivotal component in Argentinean’s meat basket, with consumption very close to that of beef. “Consumers have the advantage of accessing this high quality protein at a very affordable price,” he said. In 2020, the country exported 34,704 tonnes of meat – an increase of 65% compared to 2019 – while imports decreased 36% to 20,142 tonnes.