What is the reason for the increase in the price of beef during 2021 in Colombia?

Published Oct 11, 2021

Tridge summary

The article explains the significant rise in beef prices in Colombia, attributing the increase to economic recovery, intermediaries passing on the cost of fat steer, increased production inputs, and the effects of vandalism and blockades. The Consumer Price Index (CPI) for all meats has seen notable increases in 2021, especially for beef, and the price of the fat steer has surged by 37.7% this year. The article also highlights the effects of the national strike in May, which contributed to the majority of the price increases seen so far in 2021 for not only beef but also other meats and milk products due to rising production input costs.

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

Original content

“More demand for meat due to the economic recovery, transfer of the good price of fat steer to consumers by intermediaries, rise in production inputs and the consequences of the vandalism are the main reasons that explain the increase in the price of beef". This was explained by Oscar Cubillos, head of the Office of Planning and Economic Studies of the Colombian Federation of Livestock Farmers (Fedegán) - FNG, supported by the recent figures from DANE on the price of the fat steer and a comparison between the latter and the price index of meat to the consumer. According to the analyst, the Consumer Price Index (CPI) of all meats has had significant increases during 2021. That of beef has been the one with the greatest variation in the January-September period of this year. Inflation of other meats was similar in the same period: chicken 23.7% and pork 16.7% (see table 1). "What is this indicating? That there is more demand for meat, in general terms, due to the economic recovery. ...

Source: MXContexto