Revised UK forecast bad for Irish

Marts: Forecasts of a decline in UK beef production in 2003, leading to the necessity for increased imports, have been revised upwards in the latest analysis of production trends.

The Meat and Livestock Commission in the UK are now predicting no increase in imports of beef will be required this year to meet consumer demand because of the increase in production showing up for the second and third quarters of the year. The latest forecast will come as a disappointment to Irish producers who were hoping to capitalise on securing the supply of at least part of the increase in import requirements for the year, against keen competition from South American suppliers.

Bord Bia market analysts believe Irish exports to the UK should maintain their market share, but against competition from cheaper imports “returns look set to remain challenging” for the remainder of 2003.