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EU lamb prices trend upwards
Thursday, 3 November 2022
Despite seasonal fluctuations, EU lamb prices have been steadily rising since late 2020. Prices on the continent are expected to remain elevated as production is forecast to decline further against sustained demand on the continent.
Prices for the key producing nations of France, Spain and Ireland sat at €796/100kg, €727/100kg and €613/100kg respectively in the week beginning 17 October. For France and Spain, this is a year-on-year increase of 5% and 3%. For Ireland, prices are lower year on year, although this is due to differences in when the seasonal price dip occurred. If we compare the 2022 seasonal low to last year’s, which occurred a month earlier, the average price was up by 3%, similar to price rises in other EU countries.
GB prices for the past 18 months have been tracking those in Ireland, although dipping below in recent weeks on the back of changes in exchange rates. For GB exporters this may present opportunities on the global market, with competitive prices and improved supplies due to increased production.
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