EU's imports of beef to reach 353,000 tonnes by 2030
The EU beef market will continue to absorb more imports in the next decade, according to the latest market snapshot released by Meat and Livestock Australia. The EU was one of the largest beef consumer markets in the world in 2017, at just under 8 million tonnes – behind the US but comparable to that of China and Brazil. The EU is not self-sufficient in beef, with demand exceeding EU production capabilities. By 2030, the European Commission estimates that the EU will require 353,000 tonnes of beef imports to cover the domestic shortfall.
Within the EU, the UK accounts for about 16% of total consumption across the region and, at 17.9kg in 2017, is one of the largest per capita consumers in the market. France, Germany, and Italy are the other major consumer markets in the region. Australia and the EU have begun the process of securing a closer bilateral trade partnership and formal Free Trade Agreement (FTA) negotiations commenced in July 2018. The outcome of these negotiations will be the main determinant of Australia’s future prospects in the region.
The United Kingdom (UK) is Australia’s largest market for beef within the 28-member union and its exit from the EU, which is due to occur in March 2019, creates an attractive opportunity for Australia to improve its current market access, noted the analysts.
MLA’s Market Intelligence Manager, Scott Tolmie, said since the last update in February 2018, several key developments have emerged with implications for the Australian red meat and livestock industry. "Australia supplies red meat to over 100 countries and demand for our products is heavily influenced by changing consumer preferences, as well as trade access and supplies from competing nations. Among the insights contained in the updated snapshots are the key outcomes of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), and the implications of Brexit to the Australian red meat industry" Mr. Tolmie said.
The volume of Australian beef exported in the EU in the last 12 months reached 17,729 tonnes, of which 98% consists in chilled beef and 2% in frozen meat. Although limited in volume, the majority of Australian beef exported to the EU is destined for foodservice.
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