Argentina is one of South America’s agricultural powerhouses and is looking to expand its exports after a short-term ban on beef.

This week, the country announced a plan to seek further investment and production in one of the economy’s key areas.

CGTN's Joel Richards reports.

Historically, this country has one of the highest levels of beef consumption in the world, yet Argentina’s beef industry has been in a spin.

In May, the government placed a ban on beef exports. This was done in a move to halt the rising price of beef in the domestic market. It provoked an angry reaction from the farming sector.

The association ‘The Rural Society’ estimated the country was losing $8 million a day as a result of the beef export restrictions.

The government will now reopen exports to the Chinese market, which is welcome news for national producers who saw some international buyers going elsewhere for supplies.

"China is now a large consumer of beef. It is the largest importer in the world and being a part of that is fundamental and very important for us. Any restriction generates an imbalance in the economy of cattle production in the country," said Carlos Odriozola of Rural Society

According to official figures, China accounts for around three quarters of Argentina’s beef exports.

Yet while the Chinese market re-opens, local butchers have seen a 40 percent fall in beef sales in recent months due to the economic downturn.

Argentines face annual inflation running at more than 50 percent, making the traditional barbecue ever more expensive. 

Now that Argentina is resuming exports to China, it will fill a void in China's imported beef supply and at the same time ease domestic economic hardships. 

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