December 3, 2009

Norway's beef sales down eight percent

Wholesalers' beef sales in Norway have dropped eight percent on-year, indicating that supplies have exceeded demand for the first time in many years.

The lower sales were attributed to higher wholesale prices, which had increased by 16 percent per kg or NOK6.69 (US$1.19) from the summer of 2008.

As a result, Norway's largest food supplier Nortura has decided to lower the price by NOK1 (US$0.18) per kg in 2010.