World meat industry news

In the rest of 2022, it is hardly worth expecting increased demand for beef. This was stated by Ivan Petrov, First Deputy Dean of the Faculty of Economics and Business, Professor of the Department of Industry Markets of the Financial University under the Government of the Russian Federation.

“With a strong rise in beef prices, consumers will be able to quickly switch to alternative types of meat, namely pork and chicken, and it will not be possible even for very active sellers and producers to sell the available amount of beef. It is hardly worth expecting increased demand. It will most likely remain at the 2022 level. At the same time, a further decline in the standard of living of residents of the Russian Federation may lead to a decrease in demand, Petrov said. “The supply will also remain without significant changes from Russian producers, since an increase in production in terms of import substitution can only be expected by 2026-2027, given the long cycle of breeding livestock intended for beef production.”