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PROJECTION FOR INCREASED WORLD MEAT CONSUMPTION IS STILL POSITIVE.

The Meat Board attended the latest Projection Conference of the Food and Agriculture Bureau in South Africa on 17 August 2018. Due to the limited global economic growth, which resulted in reduced meat consumption in contrast to increased meat production (15%) following herd rebuilding phases after droughts in major meat-producing countries, world meat prices will not increase significantly. In South Africa, beef and veal consumption will increase by 24% and mutton consumption, being the most expensive meat option, will rise by 11% over the next ten years. It is expected that South Africa will remain a net meat exporting country. In the short term beef production decreased by 8% on a year to year basis with an expected growth of 3% in 2018 and 8% for 2019. Beef prices in South Africa are moving closer to world beef prices, coupled with an estimated 4,5% increased supply in the next three years. In the case of mutton, sheep meat production is not expected to increase significantly (1.4%). South Africa remains a net importer of mutton with about 5% of local consumption being imported. Lamb prices will rise by an average of 4.7%.

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