Meat prices

Global meat production rose 5% in 2021

FAO and OECD have released the Agricultural Outlook 2022-2031 report, a year-on-year review of meat production. According to the report, global meat production increased by 5% in 2021, reaching an estimated 339 million 4,444. Poultry, beef and mutton supplies increased slightly as higher feed prices reduced profitability.

Factors that limited growth

A number of factors have limited beef production in some countries, including COVID-19-related disruptions, labor shortages, continued shrinkage of the European Union’s dairy herds, and the introduction of export taxes in Argentina.

Meanwhile, India’s beef production rose 12% as slaughter numbers increased in response to the gradual reopening after the COVID-19 pandemic lockdown and rising demand in overseas markets in the Middle East and Southeast Asia. Global meat imports in 2021 are estimated to have reached 40 tonnes, led by poultry imports.

Major global meat exporters

Major meat exporters, including Brazil, the European Union and the United States, covered much of this high import demand. International meat prices referenced in the Outlook were on an upward trend in 2021 due to increased demand from the economic recovery and higher marketing and transportation costs.

Input cost and prices going forward

However, the price ratio between meat and forage has fallen significantly, putting pressure on the profitability of the intensive feed grain sector. This will lead to further tightening of the market and higher prices at the beginning of the forecast period.

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Source: Poultry Site

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