Irish beef exports may be re-routed to the EU – UK

EU beef exporters should expect their share of the UK market to “shrink significantly”, according to think-tank FarmEurope. It says Irish exports would likely be rerouted towards the EU market. This comes at a time when the EU is hoping to complete free trade deals with the US, Canada, Mercosur, Australia and New Zealand.

Grain farmers to stand by safrinha crop – Brazil

Farmers in Brazil’s largest corn-producing state Mato Grosso are expected to leave their safrinha (second crop) maize acreage unchanged from last year at 2.24m hectares, according agricultural economics institute Imea. Elevated corn prices in Brazil, which are 34% higher than last year, are driving plantings.

Beef consumption to drop – Russia

Russia is expected to see a 1.3% drop in beef consumption in 2017, to 1.92m tonnes, the lowest level on record, according to the USDA. Lower beef production internally will maintain imports at 610,000t in 2017. Beef is facing more competition from falling pork prices and affordable poultry meat.

Government to ease food price controls – Venezuela

Venezuela’s government has begun dismantling price controls, a major policy shift that aims to ease widespread unrest by letting shops sell food at market prices. This will ease the chronic food shortages. The downside is a huge rise in prices by as much as 20 times the regulated price, further fuelling inflation.