February 29, 2012

UK exports more red meat at higher price in 2011

Tight international red meat supplies have caused export numbers to rise and raised unit prices, bringing the value of red meat exports in the UK higher by one quarter in 2011.

The value of beef exports represented an increase of 32% on the year, as volumes increased by 29% and prices rose by 2%. The value of pig meat exports was 19% higher in 2011 as unit values increased by 2% and volumes were 15% higher.

The total value of red meat imports in 2011 was 5% higher. Beef imports accounted for GBP855 million (US$1.36 billion) while pig meat imports GBP1.4 billion (US$2.23 billion), according to AHDB's latest UK Market Survey.

In spite of the fact that beef imports fell 1% in terms of volume, values increased by 11% due to a 13% increase in the import price.

The total value of pig meat imports dropped by 2%. Bacon import values fell by 10%, with the value six% lower.