The total value of Irish primary beef exports in 2023 is estimated at €2.7 billion, which is an increase of 2% over 2022, according to Bord Bia’s Export Performance and Prospects report for 2023/24.
The report was launched yesterday (Wednesday, January 10) by the Minister for Agriculture, Food and the Marine, Charlie McConalogue at Bord Bia’s offices in Dublin.
The report details that beef offal exports were valued at €140 million in 2023, up 3% on the previous year.
Value-added beef exports, which are accounted for within the Prepared Consumer Food (PCF) sector, increased to €255 million, up 7%.
Irish factory cattle throughput is estimated to have decreased by more than 2% or 40,000 head at Irish meat plants in 2023, which contributed to a 3% decrease in the volume of beef exported. 489,000t of Irish beef was exported in 2023.
According to the report, beef supplies were impacted by lower carcass weights, which were down by an estimated 3%, resulting from reduced animal performance due to poorer grass quality for most of the summer period, and lower concentrate feed usage.
The UK was the strongest market for Irish beef in 2023, with primary exports growing by 10% in value to reach an estimated €1.3 billion. Irish beef exports to the UK grew by nearly 6% in terms of volume during the first half of the year.
Irish beef exports to continental European markets were slightly lower in 2023 at an estimated €1.3 billion in 2023, accounting for 48% of the overall value of this trade.
Irish beef exports to international markets are estimated to have declined by 24% to €128 million, representing a 5% share of total Irish beef exports in value terms.
According to the report, the outlook for beef exports remains “somewhat uncertain for 2024”, as global and EU supplies look set to remain well balanced.
However, the report suggests that the impact of cost-of-living factors and consumer sentiment on beef purchasing behaviour will remain “a critical factor” in determining price developments.