UK red meat trade bonus predicted as EU livestock numbers shrink
Early year beef export figures are up – and there could be more to come as latest statistics indicate an internal decline in EU red meat production, according to Hybu Cig Cymru-Meat Promotion Wales (HCC).
During the first quarter of the year, Britain exported 27,150 tonnes of beef, up 3.7% on year earlier figures, with the value of exports up 0.7%. Of this, 85% went to the EU, with non-EU countries receiving 66% more and Hong Kong seeing a huge 84% increase on year earlier figures.
Lamb exports also had a healthy increase in January and February and only fell in March due to increases in domestic demand; nevertheless, export value in quarter one up was 13% and volumes were higher than both 2021 and 2022.
“These figures, from HMRC, are very encouraging and it seems beef production, according to a EU Commission report, is expected to drop by 2.3% in 2024, due to the internal structural adjustments of the suckler and dairy herd,” said Elizabeth Swancott, HCC market intelligence, research and development senior officer.
This follows a 2.8% decline in production in 2023, when the suckler numbers dropped by 160,000 head and the dairy herd by 344,000 head. EU sheep meat production has also dropped by 5% following a longer-term scaling down – amounting to a reduction of six million head since 2019.
“While it’s always difficult to gainsay the marketplace, any supply shortfalls offer potential opportunities for further UK exports to a major trading partner. Alongside these positive beef opportunities, sheepmeat has scope with low availability, and resultant high prices, predicted to result in a 2.5% increase in exports to the EU throughout 2024,” said Swancott.
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