Beef trade balances – 2019

Friday, 15 May 2020

By Rebecca Wright

Last year was a tough year for the UK beef industry. Farmgate prices were low throughout the year, in part driven by weaker domestic demand as well as weaker European demand. Production was up during the year too. To balance the market imports fell and exports rose. Farmgate prices adjusted downwards to support the UK being competitive in the then oversupplied European market. While the volume of exports was up, the prices were significantly lower. Average fresh and frozen primary beef export prices were down by around 13% for the year. The increase in volume offset this, and so total value was up.

Rebecca Wright

Analyst - Red Meat

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