LMC Report: Increased Demand for Frying/Grilling Steaks

UK - The latest Kantar Market report figures show that GB beef demand continued to improve on 2009 levels during April with consumer expenditure and volume sales of beef higher compared to the same period last year.

21 May 2010

2 minute read

Europe

However, the expected seasonal decline in beef demand is probably underway with trends for the first four months of the year quite similar to previous years.

During the four weeks ending 19 April, GB consumers purchased almost 25,500 tonnes of beef, three per cent more than during the corresponding period last year and more than during the equivalent periods in both 2007 and 2008. This reflects the longer term trend (12 weeks ending 19 April) which shows that consumer demand has increased by 2% compared to the equivalent period last year. The figures provide further indications that the retail beef market is staging some form of a recovery following last year’s difficult trading conditions.

One of the most encouraging aspects of this increase has been the improved demand for frying / grilling cuts. During late March / early April, GB demand for these prime cuts increased by 24% compared to the same period in 2009. The increase in demand for prime cuts during April represents the extension of a longer term trend. Over the last six months, the retail sales volume of frying / grilling steaks was up by 8% compared to the corresponding period in the previous year.

One reason for the increased demand for beef in GB during April 2010 may have been a decline in average retail beef prices. In the four weeks ending 19 April 2010 the average retail price of beef was £5.85/kg, 1% lower than the equivalent figure from last year.