Mastellone’s Losses Quadrupled as Argentine Dairy Consumption Fell 10.3%

Mastellone, the company that owns La Serenísima, reported losses of $4.791 billion for the first six months of 2026. The figure represented a fourfold increase in losses, according to the information released about the company’s performance.

The result was recorded during a period in which dairy consumption in Argentina declined by 10.3%. The same percentage was reported for Mastellone’s domestic sales when measured in real terms. The company’s local commercial performance therefore moved in line with the contraction reported for the national dairy market.

The 10.3% fall in real local sales refers to sales within Argentina after accounting for changes in prices. The available figures identify the decline as a domestic-market result and distinguish it from the company’s performance outside the country. No separate local sales value was provided.

Mastellone’s exports increased by 10.5% during the first half of 2026. That rise did not compensate for the reduction in domestic sales, leaving the company with the reported loss of $4.791 billion for the period. The export figure and the local-sales figure describe different parts of the company’s business: one increased, while the other declined.

The figures describe a combination of a weaker Argentine dairy market and a larger loss at the company that owns La Serenísima. Consumption, measured across Argentina’s dairy sector, fell 10.3%; Mastellone’s real local sales fell by the same percentage; and exports rose 10.5%. The reported outcome was a fourfold increase in losses during the first half of 2026.

The information does not provide a breakdown of the loss by product, market or operating activity. It also does not specify the currency represented by the dollar sign in the reported $4.791 billion figure. The reported period, sales movements and export change are limited to the first half of 2026.