Prospects for the EU beef market
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CTA. 2003. Prospects for the EU beef market. Agritrade, August 2003. CTA, Wageningen, The Netherlands.
Permanent link to this item: http://hdl.handle.net/10568/52495
The European Commission released its review of the 'Prospects for Agricultural...
The European Commission released its review of the 'Prospects for Agricultural Markets in the European Union 2003-2010' in June 2003. In the beef sector EU-15 consumption is projected to be higher than production in 2003 for the first time in more than 20 years. This situation is expected to persist until 2010, which should allow a clearing out of EU intervention stocks of beef . Producer prices are thus expected to stay relatively high. EU production is expected to increase to 7.6 million tonnes in 2006, after which a slight decrease is likely. Taking into account EU enlargement, total beef production in the EU-25 will consistently exceed consumption. Comment: This situation should create a favourable market for ACP exports of beef providing that quality cuts of beef which can attract premium prices can be exported. It should be borne in mind, however, that these are projections and not projects with considerable uncertainty arising from: exchange-rate variations; the export capacity of newly emerging exporting regions (Black Sea countries and Brazil); the level of global economic recovery; the outcome of the Doha Development Round; and the final impact of the CAP compromise agreement.