Meat Corporation of Namibia (Meatco) exported 66% of its 1 300 tons of beef to the lucrative Norwegian market by the end of June this year.
The rest of the quota will move as per production schedule as the demand for red meat is growing globally with emerging markets having more disposable income to consume beef, marketing and sales executive, Cyprianus Khaiseb stated.
““In terms of products, Meatco is doing significantly better compared to last year and all indications are that the trend will continue as prices will be stable and moving sideways, and in some markets upwards,” Khaiseb stated.
He added that Asia Pacific is dominating the global beef market due to the increasing consumption of beef in countries such as India; China; and Japan.
Khaiseb also stated that China is the world’s largest market for beef and improving lifestyle of the consumers residing in China due to a significant rise in disposable income is the major factor fueling the growth of the beef market in Chin
“Middle East and Africa also accounts for a major part of the market share for the global beef market. Countries such as Brazil and Argentina are also expected to show strong growth during the forecast period,” he stated.
He added that there is a notable gap between demand and supply of beef due to its limited production because of several environmental and political factors as one of the major factors restraining the demand for the beef market globally.