Escalating red meat prices are expected to fall following the slaughter of 17,000 head of cattle imported into Turkey as a result of a successfully concluded tender for the purchase of livestock.

 

The government recently decided to resume livestock and red meat imports through the state-owned Meat and Fish Institution (EBK) following an eight-year ban as a result of the mad cow disease scare. The decision was aimed at curbing problems related to an unprecedented rise in prices in the Turkish red meat market over the past few weeks.

 

A third tender for the purchase of 8,000 tonnes, or 17,000 head of cattle, was recently finalised following the failure of two previous bids. The slaughter of animals that have recently arrived in Turkey from 13 countries began at the EBK's Sakarya slaughterhouse early on Wednesday (June 9). The EBK has set the price per kilo of imported red meat at TRY12 (US$7.5), well below current levels in the market.