UK

UK beef lose value in export markets

Beef

Prices were down 23% in March due to the coronavirus pandemic and its effect on demand and trade.

Posted on May 25 ,08:11

UK beef lose value in export markets

In March, UK beef exports have been impacted by the coronavirus pandemic in terms of volume and value. The growing trend reported in the first two months on the year has been stopped, the volumes exported at the end of Q1 declining to the same figure reported last year.
Exports of fresh and frozen beef from the UK remained unchanged from the previous year in March at 12,400 tonnes, after showing volume growth in January and February. This means exports for the year to date are 8% higher than the first quarter of 2019. The slowing up of exports can likely be attributed to the coronavirus pandemic and its effect on demand and trade.

Shipments to Ireland, usually the UK’s largest export destination fell 22% on the year during March. Meanwhile, exports to the Netherlands rose 31% to 3,500 tonnes, taking export volumes higher than Ireland. Exports to France and Hong Kong, were down 15% and 48% respectively. Shipments to the Philippines nearly doubled in March, to 550 tonnes.

The value of exports in March fell when compared to the same month in 2019. The total export value for fresh and frozen beef was £32.7 million, down 23% on the year, due to a 23% reduction in the average unit price, reports AHDB.
Imports have declined as well, reaching 23,500 tonnes, down 8% year-on-year. "March shipments from the UK’s largest supplier, Ireland, fell by 6% on the year to 19,300 tonnes. Imports from the Netherlands fell 45% to 900 tonnes. Conversely, imports from Poland increased 9% to 1,500 tonnes", commented Jennie Tanner, Analyst, AHDB.

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