Promising Outlook For NZ Beef
NEW ZEALAND - While demand from traditional markets may still be sluggish, New Zealand beef farmers are now benefiting from a reduced global meat supply as well as new export opportunities to developing countries whose economies have better weathered the global financial crisis.
25 March 2010
1 minute read
Wendy Voss, a senior analyst with leading food and agribusiness bank Rabobank, says the global economy may be well on the road to recovery, but at two speeds. While key developed markets like the United States, Europe and Japan are slowly improving, the recovery looks well entrenched in Asia, where demand for meat is strong.
“In spite of the current pressures on demand we are seeing in markets such as the EU and US, they will remain key markets for New Zealand in the foreseeable future and even offer opportunities for modest export growth, mainly through reduced local supply.
“However, the strongest growth in demand for meat, including offal, will be in developing countries, such as Indonesia, Russia, China and the Middle East, which have better weathered the global financial crisis and whose populations are rapidly urbanising and becoming more affluent.
“The challenge the industry now faces is where to focus its attention given limited product supply and promotional funds. How do you maintain awareness in traditional markets and develop new markets? And how do you maintain a consistent supply of product to end users, to ensure that it remains on restaurant menus and retail shelves?”
TheCattleSite News Desk
