ARGENTINA.
BEEF RETURNED.
Major beef exporters in Argentina, are having meat returned from the port of St Petersburg in Russia and Hamburg in Germany, as payments have not been honored.
Some of the beef was shipped as far back as October, on a C&F basis, when the documents were exchanged, the money was not in the importers bank to honor the commitment.
The problem is not peculiar to Argentina, as there have been reports of similar events with Australia, Brazilian and Uruguay shipments of beef.
This was the time of year, that Argentina was hoping to catch up on the losses experienced earlier this year, with the four month farmers dispute and the problems with export documents from Oncca