agriculture

Cattle ranchers sell pastures

Beef production has dropped as producers sell their land to real estate developers.

As the end of the year approaches, the production of beef in Panama has grown stagnant.

The reason is simple: cattle ranchers are being corralled by real estate developments and pasture lands are being converted into houses and hotels.

According to the preliminary results of a study undertaken by the Asociación Nacional de Ganaderos (Anagan), 1,298,800 head of cattle were slaughtered this year, which represents a decrease of 1,200 from last year, or 0.5 percent.

The stagnation is also relfected in the number of live cattle in the country. According to the study, the number of head of cattle fell to 1,520,000, 40,000 fewer than in 2006.

Despite the slight decrease in production and slaughtering, the executive director of Anagan, Euclides Díaz, maintains that the sector's performance has improved in areas such as genetics and revenue potential.

He also noted that this year's high demand for special cuts inside Panama has affected the volume destined for export.

"There are restaurants asking for special cuts now, and they are paying a good price," Díaz said.

Anagan itself is also selling its property. The president of the organization, Luis Martínez, confirmed yesterday that the U.S. firm Princess Properties purchased its former headquarters on Avenida Balboa for $666 per square meter. Anagan will move temporarily to the offices of the Unión Nacional de Productores Agropecuarios de Panamá while it looks for a new permanent home.

Anagan is planning to buy land in one of the areas reverted to Panama according to the terms of the 1977 Torrijos-Carter Treaties and to construct its own building.

"We cannot keep this money in the bank. We should put it someplace where it will generate earnings through new investments," Martínez said.

Anagan is the most powerful group of its kind in Panama.