Beef supply unchanged
Global beef output for this year will remain virtually unchanged from last year's levels, at 57.4m tonnes, according to forecasts from the United States' Department of Agriculture.
Although Brazilian and Indian output was expected to grow by 3pc and 1pc respectively, this will be offset by lower Argentine, EU, American and Chinese production.
Bord Bia's Peter Duggan pointed out that India's beef exports were forecast to grow by more than 10pc this year to 1m tonnes due to comparatively low prices, a beneficial exchange rate and robust demand from South East Asia and the Middle East.
Exports from Uruguay are this year expected to fall by 4pc to 620,000t, while Argentina is forecast to export just 41pc of its 2009 export level at 270,000t.
Meanwhile, on the import front, the strongest growth is expected in Russia and Asia.