GLOBAL - World meat production is set to show modest growth in 2014 on the back of growing demand, with a similar rise forecast for next year, according to findings from the annual GIRA meat conference taking place this week, writes Eoin Kelly, Business Analyst at Bord Bia, the Irish Food Board.
World meat production is set to increase by just below one per cent this year to reach 269.9 million tonnes, driven mainly by increased poultry and pig meat production.
Looking towards 2015, a further modest increase of 1.3 per cent in production is forecast to reach 273.3 million tonnes.
Bumper harvests in both the northern and southern hemispheres have seen feed costs decrease, which has helped production levels.
Similarly, grass growth has increased in many of the pasture producing areas as a result of favourable climate conditions.
In the short term, world feed costs are expected to remain lower than recent levels.
Global meat demand has shown some increase, driven by rising consumption in Asian and Middle Eastern countries.
Rising economic growth in these countries has led to a rise in demand, with high economic growth forecast again next year. For example, China is expected to see a GDP growth of 7.3 per cent this year with an additional growth of seven per cent forecast next year.
Beef consumption and pig meat consumption are expected to stay relatively stable in 2015.
Poultry consumption is expected to see the largest growth rate, a 3.1 per cent growth expected this year and a 2.7 per cent growth forecast for next year.
Key export destinations for meat continue to be Asia, the Middle East and North Africa. Meat imports to China are forecast to rise over eight per cent next year, with a rise of almost three per cent forecast for the Middle East and North Africa.
In terms of meat exporters, the US is showing a modest growth, with Brazil in particular showing a rise in exports on the back of a weaker Brazilian Real.
Brazilian meat exports across all categories are showing some growth this year on the back of rising demand from Russia, with exports forecast to increase by almost five per cent next year.
TheMeatSite News Desk