September 8, 2008

The weak pound against the Euro has increased competitiveness, helping to boost UK beef exports and value, according to EBLEX economist Mark Topliff.

Beef exports increased to 35,000 tonnes in the first half of 2008, with the value jumping 35 percent on-year to GBP 90 million (US$161.4 million).

Topliff said the increasing availability of cull sows account for about 75 percent of beef exports, while buyer confidence is steadily improving since the lifting of mad cow disease restrictions and the domestic beef sector is still recovering.

Topliff is cautious of the remainder of 2008, but said there are indications that the pound will remain weak, which would help beef exports.

Topliff said he is not expecting any import increases from Ireland, France and New Zealand, and that UK beef tends to enter the market in the second half of the year.

"There is a shortage of manufacturing beef in Europe, and UK cull cow beef helps fill that gap," Topliff added.