Irish beef exports to the UK fall 7.5% during the first two months of 2016 – LMC
Irish beef exports to the UK fell by 7.5% during the first two months of 2016, recent figures from the Livestock and Meat Commission (LMC) show.
The UK is a significant market for Irish beef, as it accounted for 52% of all Irish beef exports in 2015 with a value of €1.1 billion, figures from Bord Bia show.
However, a weaker Sterling so far this year and a lower UK beef price has made Irish beef more expensive to UK buyers.
The LMC figures also show that the overall volume of beef imported into the UK during January and February declined by 4% compared to the same time in 2015.
UK beef imports from the Netherlands have also declined by 16%, with 2,666t imported during the first two months of 2016.
UK beef exports
However, the volume of beef exported from the UK during the first two months of the year increased by 11% compared to the corresponding period in 2015.
According to the LMC, the EU remains the primary destination for the UK’s beef exports, with 16,095t exported during the first two months of 2016, accounting for 92% of all UK beef exports.
The LMC reports that the strengthening in euro against Sterling has helped make UK beef cheaper on the EU market in recent months.
Ireland remains the biggest market for UK beef within the EU with exports totalling 6,865t during January-February 2016. This is 43% of the UK’s total beef exports. During the same time in 2015, export volumes to Ireland stood at 6,654t.