Argentine-Hilton Beef Quota Re-allocated.

ARGENTINA-The government yesterday reallocated beef export permits of the Hilton quota for a volume of 1,747 tons, from 27 meat processing plants that are expected to fail to comply with the agreed volume of meat exports in the 2008/2009 season.

The measure was adopted by the Agriculture Secretariat headed by Carlos Cheppi.

It was announced in the Official Gazette yesterday, as a the government seeks to reassure the volume of 28,000 tons that Argentina yearly exports to the European Union will be reached.

The Hilton Quota is the informal name of the Tariff Quota regulated by the European Union, which consists of a quota of 58,100 tons of high-quality fresh, chilled and frozen beef, supplied by Argentina and seven other countries. Hilton Quota beef enjoys a significant duty preference vis-à-vis the European Union Most Favoured Nation import regime.

The beef must be shipped to Europe before June 30, otherwise, the European Commission would punish Argentina by discounting the difference from exports in the upcoming years. The reallocation of the permits will benefit 32 meat packers, including Argentine Breeders y Packers; Arre Beef; Ecocarnes S.A.; Finexcor; Frigorífico Gorina; Firar S.A. and Rafela Alimentos S.A.

Yesterday’s resolution says that the meatpackers must specify the details of the shipments before April 20. "The fulfillment of the Hilton Quota adds value to local exports and improves the revenue coming from the foreign sector," stated the Official Gazette, substantiating the decision adopted.