• August 5th, 2020

World meat prices will not increase significantly

WINDHOEK - World meat prices will not increase significantly due to the limited global economic growth resulting in reduced meat consumption in contrast to increased meat production (15 percent) following herd rebuilding phases after droughts in major meat-producing countries.

A delegation from the Meat Board of Namibia attended the latest Projection Conference of the Food and Agriculture Bureau in South Africa last week. In South Africa, beef and veal consumption will increase by 24 percent and mutton consumption, being the most expensive meat option, will rise by 11 percent over the next ten years. It is expected that South Africa will remain a net meat exporting country. In the short term beef production decreased by eight percent on a year to year basis with an expected growth of three percent in 2018 and eight percent for 2019. Beef prices in South Africa are moving closer to world beef prices, coupled with an estimated 4,5 percent increased supply in the next three years. In the case of mutton, sheep meat production is not expected to increase significantly (1.4 percent). South Africa remains a net importer of mutton with about 5 percent of local consumption being imported. Lamb prices will rise by an average of 4.7 percent.

Staff Reporter
2018-09-25 09:22:09 | 1 years ago

Be the first to post a comment...

You might also like...