INDIA – Analysts are forecasting further gains in Indian beef and veal exports as Indian shipments pull further away from Brazil.
This is against a backdrop of lower production in many key beef producing regions, according to the US Department of Agriculture.
In a Foreign Agricultural Service report, the USDA said that, as in 2014, India will be the world’s biggest beef exporter and volumes will increase 13 per cent.
Meanwhile, Australia, the US and Brazil will export less this year, strengthening India's role as the number one beef exporter.
The USDA predicted an overall global marginal fall in beef production, to just over 59 million tonnes.
Reacting to the report, analysts at EBLEX said: “Significant factors driving this change are an increase in shipments from India, EU member states and Paraguay.
“There have been some suggestions that an increase in exports from Brazil could be probable for 2015/16, despite production expected to decline.”
Economic difficulties will likely keep domestic consumption ‘relatively similar to previous years’, added EBLEX.
“Overall, the forecasts suggest that the world beef industry is continuing in its realignment, with India increasing its importance, while the US and Australia assume a declining role.
“It would seem that Russia is likely to become a less important destination for beef exports in the medium term while Asian markets such as China and Hong Kong continue to increase in popularity amongst global exporters.”
TheMeatSite News Desk