Tighter supplies of beef in Europe and the UK will underpin a positive market environment in 2025, Bord Bia has said.Global demand for beef imports is expected to increase further in 2025, as economic growth positively influences consumer sentiment and spending on beef, Bord Bia said. In 2024, Irish beef supplies were impacted by lower carcase weights, which were down by an estimated 5%. However, stock carryover from 2023 to 2024 lifted total supply volumes of beef for export, a Bord Bia spokesperson told the Irish Farmers Journal.
Tighter supplies of beef in Europe and the UK will underpin a positive market environment in 2025, Bord Bia has said.
Global demand for beef imports is expected to increase further in 2025, as economic growth positively influences consumer sentiment and spending on beef, Bord Bia said. In 2024, Irish beef supplies were impacted by lower carcase weights, which were down by an estimated 5%. However, stock carryover from 2023 to 2024 lifted total supply volumes of beef for export, a Bord Bia spokesperson told the Irish Farmers Journal.
“The average EU young bull price reached €5.58/kg for the year to early December, compared with €4.96/kg in the same period of 2023. By comparison, Irish R3 steer prices averaged €5.13/kg during 2024 to date [to mid-December], which represents a 3% improvement year on year,” they added.
The UK continues to be the strongest market for Irish beef and in 2024 primary exports increased by 2% in value to €929.3m by September 2024.
Trade was helped by improved consumer demand and import levels in Britain, Bord Bia said.
Irish beef exports to continental Europe performed well in 2024, with good demand for forequarter, mince and manufacturing beef, while higher value cuts such as steaks also improved later in the year.
Key markets
Bord Bia data shows that top-performing key markets included the Netherlands where volumes are up 13% and Sweden, with volumes up 6%.
“Irish beef exports to international markets grew significantly in 2024,” it said, “reflecting an overall increase in global import demand and beef import prices. Standout markets included the Philippines and Japan. In the first nine months of the year, exports to the Philippines had grown by 44% to nearly €22m. Exports to Japan had more than doubled by September, to reach €8.6m. As of September, exports to mainland China were just under €10m.”
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