Poland: Beef will become more expensive, but consumption may decline

- The beef market in Poland has entered the phase of cost revision, which is caused by changes in the consumption trend, and this is the result of the ongoing economic crisis. Inflation, which - as reported by the Central Statistical Office - amounted to 17.2 percent in September this year, makes beef expensive. In the coming months, inflation will rise and no one can predict its maximum level. In the next three quarters, i.e. until the end of June 2023, there is no sign of a change, because the monetary policy of the Monetary Policy Council consisting in raising interest rates is in opposition to the development of fiscal spending by the government. As a result, the inflationary environment deepens. This will result in an increase in beef prices, and this will entail a decline in consumption - estimates Witold Choiński, president of the Polish Meat Union. Recent data readings for Poland on the purchase of slaughter cattle from slaughterhouses indicate declines for all categories. ...