Ireland's beef sector could benefit from demand in key EU export markets in 2023

A growing “preference” among consumers in the UK to buy beef “sourced” in Britain could pose an issue for the Irish beef industry in 2023, Teagasc has warned. Traditionally, the UK has been seen as Ireland’s second “home” market, but the latest dynamics in buying patterns may put further pressure on the beef industry to develop new markets to reduce its dependency on the UK market. The Teagasc 2023 Economic Outlook for Irish Agriculture report highlights that beef retail consumption in the UK fell back in 2022. The report also details that demand switched back towards the “foodservice options”. In contrast however, UK consumer prices for sirloin/rump steak grew and the Teagasc report details, hit record levels in “sterling terms” during the second half of the year. “This is a positive development for the beef sector in Ireland given the importance of exports to the UK,” the report said. Source: Teagasc Outlook 2023 The latest report by the Teagasc agricultural economics and farm ...