Lack of local ownership in Uruguay slaughter - leatherbiz: Leading new Leatherbiz

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Lack of local ownership in Uruguay slaughter

04/11/2011
The National Meat Institute of Uruguay (INAC) has said that, while the South American country is home to 38 packer firms, just 18 of these account for 90% of cattle slaughter there.

Figures for 2010 show that Uruguay exported 520,000 tonnes of beef to more than 100 overseas markets. Uruguayan beef is in demand and packers have been able to secure good prices, for the most part.

However, union leaders have complained that too much of the beef business is in overseas hands.

According to the Federation of Meat Industry Workers (Foica), 24% of Uruguay's beef export profits went into the hands of non-Uruguayan owners in 2005. However, after rapid expansion and high levels of profit between 2006 and 2009, more overseas owners moved in. The organisation has calculated that Brazilian companies alone control 37% of Uruguayan beef exports now.


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