Latest news with #exportaciones
Reuters
24-06-2025
- Business
- Reuters
Higher British alcohol tariffs sap exports of Spanish red wine
MADRID, June 24 (Reuters) - Spanish wine makers are concerned that exports to Britain, their main market for still wine, have fallen in value this year due to higher tariffs linked to alcohol content, and at a faster pace than those of French and Italian rivals. A British regulation introduced in February requires that importers pay greater tariffs on wines with a higher alcohol content. That impacts Spanish wines, especially reds, which typically exceed 12.5% alcohol, which triggers a sharp hike in the levy. Spanish winemakers said Spanish wines tend to have a higher alcohol content than those produced in other European countries as warmer weather produces a grape with more sugar. During fermentation, this results in higher alcohol content in the resulting wine. Jose Luis Benitez, director of the Spanish Wine Federation, said Spanish red wines, popularly sold in the UK, were the "most penalised by the tax increase," adding that "the new tax system favours beers... and some sparkling wines." Prior to the UK tariff changes, wine duties depended on liquid volume, rather than alcohol content. Spain's wine exports to the UK in the first four months of 2025 dropped 7.5% in value to 111 million euros ($127.32 million), the Spanish Wine Interprofessional Organisation data shows, overshadowing concerns linked to U.S. tariffs. In contrast, Spanish exports to the United States, where importer demand has risen to offset any potential U.S. tariff increase, climbed 9% to 119.6 million euros. France and Italy saw exports to Britain fall by 6% and 6.7% respectively, and Spanish producers said the new tariffs were eroding competitiveness, already eroded by higher post-Brexit costs. "It's putting our prices much, much higher," said Nicola Thornton, founder of wine exporting company Spanish Palate from Toro, in northwestern Spain. "The tax is definitely a conversation that's in the foreground. Everyone is asking: what's the alcohol level?" Benitez said British importers were now paying around 20% more for the mainly red wines affected by the levy. "It is undoubtedly affecting us ... England is a big and historic market for Spanish wines," Richi Arambarri, CEO of Rioja-based Vintae winery, told Reuters. While importers were increasingly shifting toward lighter wines with alcohol levels between 11.5% and 12% to minimize costs, these wines face resistance from consumers. "In the end, people like wines that have a certain body, and for that, the alcohol content is essential," Arambarri said. ($1 = 0.8718 euros)
Reuters
22-05-2025
- Business
- Reuters
Argentina's famed steak exports slide as strong peso pumps up costs
BUENOS AIRES, May 22 (Reuters) - In the Villarroel meat plant outside Buenos Aires, workers skillfully butcher cuts of Argentine beef, popular with restaurants from Shanghai to New York. But the country's steak exports are now sliding as costs rise on a stronger local peso. In the first four months of the year, beef exports fell nearly 20% year-on-year to around 255,000 tons, according to government agency Senasa. Shipments to price-sensitive top buyer China plunged to 137,000 tons from 203,000 tons a year earlier. Chinese importers - which gobbled up two-thirds of Argentina's beef exports last year - are paying around $5 per kilogram, packers say, cutting into their margins as local costs have risen alongside the peso. "We can't compete," Yahir Auad, a manager at the meat-packing plant's wider group, said at the factory in the city's suburbs. Last month, President Javier Milei eased years-long currency controls as part of his effort to stabilize Argentina's economy, a move long sought by investors. But a stronger peso has pushed up relative costs and hit what had for years been a competitive edge for some Argentine firms, affecting exporters as well as sectors like tourism as the country has become more expensive in dollar terms. "We've got more exchange-rate stability now, but that stability hasn't benefited us exporters," Auad said. "It costs us $4 or $4.50 (per kilo) to produce the raw material, to which we have to add expenses and taxes." The tough situation for Argentina's meat packers - that include Minerva's ( opens new tab Swift, Quickfood, owned by Brazilian giant Marfrig ( opens new tab, and others - represents a challenge for Milei even as Argentina emerges from years of economic tumult, overspending and market distortion. "Argentine beef is today the most expensive in Latin America in dollar terms," said Miguel Schiariti, director of meat-packing chamber Ciccra, citing the cost of a cut of tenderloin at the equivalent of some $4.70 in Argentina versus $3.60 in Brazil and $3.50 in Uruguay. "The meat-packing industry and the production industry will go bankrupt in this environment," he said. Argentina - known for its ranches, barbecue grills and huge per capita consumption of steaks - has some 53 million head of cattle and is among the top five global exporters of beef, usually sending higher quality cuts to Europe and North America, and cheaper cuts to China. However, exporters are finding it increasingly difficult to place their products on the international market. "Everyone is struggling to be profitable," said Miguel Jairala, an analyst with the ABC chamber of meat exporters. ABC says some meat-packing plants have begun cutting staff, in some cases more than 10% of the workforce. "Deals aren't being closed, with production costs high compared to the prices paid in China. Brazil has the potential to offer the same product, even better quality than ours, at a more competitive price," said Jairala. Auad said high taxes, including a 6.75% tariff firms had to pay when exporting, also contributed to the pain the sector was facing. Industry groups are lobbying the government to lower taxes. Argentina's Secretariat of Agriculture did not respond to a Reuters request for comment. "We had to close our (other) Las Heras meat packing plant because we couldn't fulfill the contracts," Auad said. "We sold at a certain price and were never able to fulfill the orders."
Reuters
20-05-2025
- Business
- Reuters
Argentina posts $204 mln trade surplus in April, far below expectations
BUENOS AIRES, May 20 (Reuters) - Argentina posted a trade surplus of $204 million in April, after registering $6.66 billion in exports and $6.46 billion in imports in the month, the government's statistics office published on Tuesday. The data landed far below the $1 billion surplus forecast from analysts polled by Reuters. April still marked the seventeenth-consecutive positive monthly trade balance, with exports exceeding the value of imports, for the South American economy.
