Argentina will fail to import hams from Spain to increase the supply of domestic products, a measure that occurs at a time of trade tension between the two countries after the expropriation to 51% of YPF-Repsol. According to the Argentine newspaper La Nacion, the Secretary of domestic trade, Guillermo Moreno, has reached an agreement with the producers of pork in the country that prohibit imports of Spanish, Italians and Brazilians hams.
Recently, in response to the decision of the Government of Cristina Fernandez de Kirchner to nationalize the oil company YPF, until now a 57% owned by Repsol, the Spanish Executive approved a law to assign quotas of production of biodiesel in Spanish plants, which limited the entry of the refined product from Argentina.
According to the latest statistics data from Comtrade (UN Database), the total amount of hams exported to Argentina from Spain only represents about 0,22 % in quantity and 0,28% in value of the Spanish ham exports.
The EU is our top buyer of hams: France with 30% in quantity and 22% in value followed by Germany with 21,6% in quantity and 16% in value. And outside the EU, Russia is the top importer of our hams. There has been a strong growth of the Chinese market which has already become the second largest meat export destination outside the EU.
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The report points out that the nationalisation of the oil company YPF, a subsidiary of Repsol, number 1 and 2 in local oil (35%) and gas (25%) production, is not going to encourage foreign investors. Moreover, it classifies the country with an unpredictable business environment.