USDA predicts increase in world beef production


The Ministry of agriculture of USA (USDA) predicts another year of growth in the world production of beef and veal, about 2% to nearly 62 million tons in 2017

The increase is mainly due to North and South America: manufacturers of South Africa and New Zealand concentrate on the recovery of the herd after the problems associated with drought.

According to forecasts, the volume of production in Australia amounted to just over 2 million tons. East Asia will become the driving force of global demand growth. Thus, the Ministry of agriculture of the USA predicts that the total import demand for beef in China and Hong Kong exceeds the same indicator in the U.S. this year.

Thus, although the growth of supply is moving to the West, the rising demand is to the East, as other large importers soften its demand. Weak Russian ruble reduces the purchasing power and the demand for Egyptian imports also falling. All this leads to a projected increase of world trade by 2%.


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