March 27, 2006

High EU meat prices drive UK buyers to US beef

High meat prices in the European Union are making it increasingly attractive for UK consumers to buy US beef and pork at a time when more US plants are gaining EU export approval, according to the US Meat Export Federation (USMEF).

The beef shortage in the UK could become more acute as British beef exports to EU member states would restart in the coming months, a USMEF release said.

Beef prices are climbing in the EU due to restrictions on imports from Brazil caused by a foot-and-mouth disease outbreak while Argentina's self-imposed ban of beef exports are also pushing prices up.

In January, US exports of beef to the EU registered an 11 percent increase in value over the same month last year while US exports of pork increased 31 percent in value, the USMEF said.