Adam Woods reports on mounting pressure on beef processors to increase beef quotes as world markets race ahead on the back of short supply and strong demand.
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Title: Pressure on factories to hike beef prices
Adam Woods reports on mounting pressure on beef processors to increase beef quotes as world markets race ahead on the back of short supply and strong demand.
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Pressure is mounting on beef processors to increase beef quotes as demand outstrips supply in many of Ireland’s key markets for beef.
Irish beef prices are lagging behind South American and Polish prices by as much as 47c/kg, or €164/head.
Argentinian beef prices are up €350/head on the same week in 2021, while the Irish price is only up €120/head.
The Bord Bia price tracker now shows a 50c/gap or €175/head difference in the Irish price and that of its main markets.
Serious questions are now being asked about why Irish beef is at the bottom of the EU price table, given its premium reputation.
The World Cup, kicking off on 20 November, is expected to result in a ‘burger bonanza’ as soccer fans eat out to watch matches.
This will drive up beef consumption, in addition to the pre-Christmas surge in buying by factories.
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