Meat prices in the country are set to fall by up to 15%, according to the announcement by the Association of Refrigerators of Colombia (Asofricol), adding to the price-cutting war that several supermarket chains have started.
Álvaro Urrea, president of the association, said that there are several factors at the national and international level that allow us to make this announcement to the country and to participate in this great crusade that will benefit all Colombians who make it experienced an unprecedented price escalation.
“We are responding to the invitation of the President of the Republic, Gustavo Petro, and are drawing the attention of the various actors in this chain because there are conditions to achieve this price reduction,” he added.
He explained that factors such as the beginning of the livestock harvest season in Colombia, as well as the recovery of pastures with the rains, especially on the northern coast, are driving the downward trend in livestock prices.
Following this announcement, President Gustavo Petro posted on his Twitter account: “Without harming food producers, another agro-industrial chain is linked to the presidential proposal to lower food prices. This time the meat.
The Association of Refrigerators believes that this situation is an opportunity to create a virtuous circle that benefits all Colombians through the price reduction and that also strengthens the relationship between the government and all actors in this chain, including farmers, transporters, refrigerators and traders, strengthened.
In addition, they draw attention to international factors that must be considered by the country as competitive with other countries.
One is that Brazil, the main producer and exporter of cattle in the region and the world, has an oversupply of cattle. This affects prices on international markets and the competitiveness of Colombian meat.
For Asofricol, the focus in the future must be on guaranteeing the conditions under which the price of meat can fall.
“We need to drive better productivity rates to ensure competitive pricing for all players. Likewise, all links in the chain must be integrated into this goal while strengthening alignment between the public and private sectors,” said Urrea.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
