Middle East/North Africa Beef Imports To Grow
MIDDLE EAST - According to latest forecasts from GIRA, the outlook for the global beef industry shows some increase in trade during 2011, reflecting stronger demand in less traditional markets, particularly the Middle East and North Africa, writes Peter Duggan, Strategic Information Services, Bord Bia.
21 December 2010
1 minute read
While global consumption may ease slightly, relative tight global availability is expected to help price levels.
The growth in demand from Middle East and the North Africa (MENA) is expected to underpin the global beef trade. Beef imports in the region are expected to increase by nine per cent to 1.43 million tonnes, with Brazil expected to increase exports by 12 per cent to 745,000 tonnes.
To date in 2010 Iran and Egypt are the key import markets in the MENA region, with shipments aggregately 295,000 tonnes (pw) for the first eleven months of the year.
Elsewhere, a rise of six per cent in US exports is anticipated, principally to market such as Japan and Korea as weaker US demand boosts volumes.
However, US imports of beef will increase by three to 1.86 million tonnes, driven by a strong manufacturing trade.
The tightness anticipated in global beef supplies and an increasing appetite for beef across the MENA region, GIRA anticipate relative strong cattle prices among all major global beef producers during 2011.
TheCattleSite News Desk
