The United Kingdom increased its beef exports and imports in October but they are still below those of 2022

Published Jan 8, 2024

Tridge summary

British exports of fresh and frozen beef increased by 17% in October, reaching a total of 9,692 tonnes, but year-on-year volumes were still 4% below 2022 levels. These export increases were driven by higher demand from countries like Ireland, France, and the Netherlands, as well as non-EU destinations like Hong Kong, likely due to seasonal movement and Christmas period purchases. Additionally, British beef imports for October 2023 amounted to 19,638 tonnes, 7% less year-on-year but 7% more than in September, with some shortages in the domestic supply chain likely boosting import growth to meet year-end seasonal demand.

Overall, export volumes remained below 2022 levels, likely limited by lower production and strong British cattle prices, while import volumes were also below previous years but saw a slight increase compared to September.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Thus, British exports of fresh and frozen beef increased in October, with a month-on-month increase of 17%, reaching a total of 9,692 tonnes, according to HMRC data. This increase follows the relatively stable exports recorded during the first three quarters of 2023. However, export volumes throughout the year have remained below those recorded in 2022. Year-on-year volumes for October stood at 422 tonnes (-4%) below the 2022 figures. So far this year (January-October), the United Kingdom exported 74,396 tonnes of beef to the EU, compared to 88,198 tonnes in the same period in 2022, a decrease of 16%. Exports are likely to have been limited by lower production and strong British cattle prices in 2023, limiting the competitiveness of British beef. The monthly rise in October was largely due to increased demand from countries such as Ireland (+17%), France (+29%) and the Netherlands (+25%). Exports to non-EU destinations, such as Hong Kong, also increased (+39% since September). ...

Source: Agromeat