TheMeatSite.com - TheMeatSite.com - news, features and articles for the meat processing industry

News

Increased Global Beef Trade Expected in 2011

01 November 2010

GLOBAL - The USDA expects some increase in the global trade for beef in 2010, reflecting an on-going recovery in demand across key import markets, according to Peter Duggan, Strategic Information Services, Bord Bia.

However, the recovery is expected to be modest due to higher prices and relatively tight global supplies.

Global beef imports are expected to rise by 3% to 7.1 million tonnes next year.

The majority of this growth centres on the rise in per capita beef consumption in Asia. Import demand in South Korea, Hong Kong and Vietnam in 2011 is expected to reach 855,000 tonnes, which would be double 2006 levels.

Imports into the South Korean market are being helped by lower prices compared to local prices, increased confidence surrounding imported product following the implementation of a traceability system, and country of origin requirements for food service.

Other markets expected to expand their imports during 2011 include Egypt and Iran, reflecting some further increase in per capita consumption coupled with lower local supplies.

Brazilian beef exports are expected to grow by eight per cent to 1.8 million tonnes next year, due to output expected to rise by three per cent to 9.4 million tonnes. This is broadly in line with cattle herd growth at three per cent to 191 million head.

Any further expansion in the cattle herd will be influenced by beef demand, locally and internationally. Elsewhere, beef exports will be constrained in the US, due to falling cattle numbers.

The USDA expects exports from Argentina, Australia, and the EU-27 during 2011 to remain unchanged.

TheMeatSite News Desk



Our Sponsors

Partners


Seasonal Picks

Meat Cuts and Muscle Foods - 2nd Edition