Global Beef Supply Getting More Scarce

AUSTRALIA - The supply of beef is falling around the world and prices are set to remain high.
calendar icon 17 June 2011
clock icon 1 minute read

According to economist with Global Agri Trends, Brett Stuart this will mean poor countries will struggle to cope with food price inflation.

"Right now we're looking at quite possibly the fourth consecutive year of global beef declines," he told ABC.

"This hasn't occurred in 50 years of data, that we've had globally beef production decline for four consecutive years.

"So that just puts us in a spot where supplies are tight and prices are high."

Mr Stuart said denying the Indonesian market a supply of Australian beef in Ramadan would increase the price of beef, and possibly cause political instability in Indonesia, ABC reports.

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