A recently published AHDB report has forecast an increase in Irish beef exports, as it continues to gain popularity in the UK.
The republic of Ireland has since become “UK’s main supplier of beef”, according to the Agriculture and Horticulture Development Board (AHDB)’s outlook report.
The report outlook has shown that Irish cattle are being sold at a discount as compared to UK animals, hence it is “likely to become more attractive” owing to food demand.
Cattle availability in Ireland is expected to increase as the year goes by, and this has the potential to result in the number of processed Irish cattle increasing by 3%.
The report also forecasts the growth of overall UK’s beef imports by 10%, as trade growth is expected in the first quarter of 2022.
This is major growth compared to the 1% growth that was recorded in 2020.
The farmers’ board report has however; warned that despite this, an increase in the importation of “comparatively cheaper, more plentiful Irish supplies” could put severe price pressure on UK’s beef price.
According to the study, the UK beef market has high prices for complete cattle and cast-off cows. The future of beef production in the UK is however expected to fall this year as a result.
LSL News.