EU lamb imports to recover

INCREASED 2012 imports from New Zealand will prevent a repeat of this year’s sharp EU lamb price increase, say experts at the Gira international food and drink consultancy.

Prices in Ireland are expected to stay broadly similar to last year, with a decline in prices across the EU of 0.5%. Profitability is expected to improve due to lower feed costs.

Gira’s assessment of consumption is upbeat, highlighting that lamb occupies a niche but stable position in the overall EU meat market, and demand is well supported by ethnic and traditional markets.

Lamb imports in 2011 fell 4.2% from already low 2010 figures, but are expected to recover in 2012, with a 4% increase in imports predicted, based on New Zealand availability.