The consumption of meat per capita in the EU is expected to decrease by 1.5% in 2024 due to price inflation and lower market supply, according to the latest analysis published by the European Council.

Beef production in the EU is expected to further decline in 2024 by -3.1%, mainly due to structural adjustments in the beef and dairy sector and low margins.

Imports into the EU could decrease due to reduced production in the United Kingdom, while South America does not fully compensate for import losses from the UK. EU exports continue to struggle with high domestic prices.

A smaller breeding stock, as well as African Swine Fever (ASF), push EU pork production further down by 6.6% in 2024, despite lower feed prices. Sustained domestic demand and lower demand from China slowed EU exports by 16% in 2023.

EU poultry production could benefit from a 3.3% recovery in 2024 as it is one of the cheaper animal proteins available.

On the other hand, EU poultry prices make exports less competitive. Brazil, Ukraine, and Thailand send substantial volumes to the EU (+12%), while the UK experiences a massive decline.

Low sheep stocks in the EU pushed slaughter down by -1.8% in 2023. Sustained demand and high domestic prices favor more imports from New Zealand and the UK (+15% in 2023), according to the cited source. (Photo: Freepik)