Beef consumption growing
The increase in the consumption of beef both locally and internationally is creating more opportunities for the Namibian meat industry.
This growth allows for Meatco to continue investing in newly realised markets such as Hong Kong and the United States of America while sharing a market space with big suppliers such as Brazil and Argentina.
According to Meatco the increase in beef consumed in both developing and developed countries is ascribed to an increase in the size of the middle class market globally.
“This means that more people are consuming beef at home and in restaurants as their income increases.”
According to Meatco cattle numbers slaughtered has also increased to approximately 80 000 annually, while Namibia's expanding middle income class is a contributing factor to this increase.
However, because of different affordability trends and population dynamics, beef consumed in Namibia remains less than that consumed elsewhere, the company said.
Meatco processed a total of 21 809 tonnes of meat for its markets during the 2016/17 financial year reporting period, compared with 26 878 tonnes recorded the previous year. International markets account for 75.41% of the value of Meatco's sales, while South Africa and Namibia combined accounted for 22.9%.
According to Meatco the European Union (EU) is a major export market for Namibian red meat, fish and grapes, receiving 40% to 70% of Namibia's agricultural exports. The company says preferential access to the EU market for premium beef cuts has made it possible for the local red meat industry to upgrade its production facilities to meet international standards.”
“Beef consumption has been on the increase throughout the world and demand is growing. This puts Namibia in an excellent position to continue with beef production thanks to international market demands,” said Cyprianus Khaiseb, Meatco's executive for sales and marketing.
Meatco as a meat processing entity continues to benefit from the current increased marketing opportunities globally and due to beef remaining an important source of protein.
The general manager of the Meat Board of Namibia, Paul Strydom, earlier this year said the country's beef industry has the potential of being a global leader despite predictions indicating that there will be a decline in beef consumption by 2025.
According to Strydom, predictions show that there will be 6% growth in beef consumption.
According to the Meat Board Namibia is currently the 30th largest exporter of beef in the world with 24 countries importing Namibian beef and six countries importing sheep and goats products.
This year new markets are being pursued in countries such as Tanzania, Mauritius, DRC, Kenya, Zambia and Saudi Arabia, the Meat board said.
ELLANIE SMIT
This growth allows for Meatco to continue investing in newly realised markets such as Hong Kong and the United States of America while sharing a market space with big suppliers such as Brazil and Argentina.
According to Meatco the increase in beef consumed in both developing and developed countries is ascribed to an increase in the size of the middle class market globally.
“This means that more people are consuming beef at home and in restaurants as their income increases.”
According to Meatco cattle numbers slaughtered has also increased to approximately 80 000 annually, while Namibia's expanding middle income class is a contributing factor to this increase.
However, because of different affordability trends and population dynamics, beef consumed in Namibia remains less than that consumed elsewhere, the company said.
Meatco processed a total of 21 809 tonnes of meat for its markets during the 2016/17 financial year reporting period, compared with 26 878 tonnes recorded the previous year. International markets account for 75.41% of the value of Meatco's sales, while South Africa and Namibia combined accounted for 22.9%.
According to Meatco the European Union (EU) is a major export market for Namibian red meat, fish and grapes, receiving 40% to 70% of Namibia's agricultural exports. The company says preferential access to the EU market for premium beef cuts has made it possible for the local red meat industry to upgrade its production facilities to meet international standards.”
“Beef consumption has been on the increase throughout the world and demand is growing. This puts Namibia in an excellent position to continue with beef production thanks to international market demands,” said Cyprianus Khaiseb, Meatco's executive for sales and marketing.
Meatco as a meat processing entity continues to benefit from the current increased marketing opportunities globally and due to beef remaining an important source of protein.
The general manager of the Meat Board of Namibia, Paul Strydom, earlier this year said the country's beef industry has the potential of being a global leader despite predictions indicating that there will be a decline in beef consumption by 2025.
According to Strydom, predictions show that there will be 6% growth in beef consumption.
According to the Meat Board Namibia is currently the 30th largest exporter of beef in the world with 24 countries importing Namibian beef and six countries importing sheep and goats products.
This year new markets are being pursued in countries such as Tanzania, Mauritius, DRC, Kenya, Zambia and Saudi Arabia, the Meat board said.
ELLANIE SMIT
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