Structure of Demand Seems Set to Differ

UK - An increase in the retail price of beef and lamb could result in a change in the structure of demand for imports according to a new report by the English Beef and Lamb Executive (EBLEX).
calendar icon 7 February 2008
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EBLEX

Today's publication 'Retail Prices and Import Demand' is the last in a series of four special studies commissioned by EBLEX to take an in-depth look at the relationship between retail prices, beef and lamb consumption and import requirements.

It follows last November's publication of the fifth edition of EBLEX Business Pointers, which looks at farm costings data for the year to March 31 2007.

This found that English sheep producers lost between 65 pence and £36 per ewe, and English beef producers lost up to £430 per animal once the Single Farm Payment was excluded and non-cash costs were taken into account.

Richard Ali, EBLEX Chief Executive said: "The Business Pointers figures clearly show there is an urgent need for a sustainable farmgate price if the vast majority of livestock producers are to have a future.

"Today's report builds on the findings of our price elasticity work - An Analysis of Retail Meat Demand - published last May. This showed how increasing the farmgate price affected consumer buying patterns for beef and lamb cuts.

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