By:Nghiinomenwa-vali Erastus
The Meat Corporation of Namibia (Meatco) says it aims to pay producers on time and ensure they maximise returns from the country’s lucrative niche markets.
In a statement this week, the company revealed it is certain of another profitable month of July.
This is after the company, in a period of two months generated N$297 million after it slaughtered 19,431 cattle.
This is in the midst of reported weekly losses of at least N$5 million by the parastatal.
The increased cattle numbers coming through the Windhoek Abattoir could indicate a significant turnaround in the business of the corporation according to the Meat Board.
Meatco believes that continuing this trend is likely to lead to a consolidated recovery year for the financial year running from January 2023 to February 2024.
The company performed favourably in May and June by generating around N$107 million and N$190 million in revenue, respectively.
According to the Meat Board of Namibia, during the second quarter of 2023, livestock and meat marketing rebounded.
The growth was mainly driven by the increase in exports at the export abattoirs with cattle marketed increased from 78, 212 head of cattle, representing an increase of 8.0% of total cattle marketed during the second quarter of last year.
Another improvement is the ratio between live exports and slaughtering in the country, with 53.0% of all cattle marketed being slaughtered at A, B & Class abattoirs.
Live exports market share reduced and averaged at 47.0%, a decline of 5.9% of total marketing.
It has been indicated, that market signals appear to be well-functioning in the livestock and meat industry, as producers responded well to relatively attractive prices offered by A-class abattoirs.
The Namibian B2 producer prices paid by export approved abattoirs South of the Veterinary Cordon Fence (SVCF), averaged N$61.06/kg, a 0.5% increase from the average N$60.77/kg paid last year during the same period.
Meatco slaughtered a total of 38,401 animals with 2,079 slaughtered from the Northern Communal Area (NCA) and 36,322 from the SVCF as of end July 2023.
The average slaughter weight for January was 250.3 kg and the average price was N$58.84.
In February, the average weight slaughtered was 259.96 kg against an average slaughter price of N$60.30 while in March the average weight was 250.36 kg with a N$60.31 average slaughter price.
As for April, an average weight of 251.64 kg was slaughtered with an average price of N$60.24 paid to producers whereas in May the weight was 253.22 kg with a N$59.67 average price paid for the month.
For June, the average slaughter weight was 253.63 kg while the average price was N$60.13.
The total marketed beef for January-June 2023 was 5,515 metric tonnes, generating a total value of N$444 million derived from local, regional and international markets.
Meattco has also been allocated 75% (1,200 tonnes) beef quotas for export to the lucrative Norwegian market during the year 2023 by the Ministry of Trade and Industrialisation in collaboration with the Meat Board of Namibia.
According to their latest updates, Meatco has thus far filled the quota with 893 metric tonnes as of the end of July 2023.
The quota has been effective from 1 January 2023 and must be fulfilled before 31 December 2023 while subject to Standard Operating Procedures as issued and updated by Meat Board sporadically.
Meatco has budgeted to slaughter 50,000 animals in the SVCF and 10,000 in the NVCF for the 2023/24 financial period. Email: erastus@thevillager.com.na
