HSBC report forecasts 17% rise in meat production

By Michelle Perrett

- Last updated on GMT

The report predicts that Brazil will continue to be a key supplier of all protein
The report predicts that Brazil will continue to be a key supplier of all protein

Related tags: Meat

Meat production is expected to grow by 17% over the coming decade, with Brazil remaining a key supplier, according to the recently released HSBC Forward Planning 2016.

It claimed that while this was a “more modest”​ increase than during the past decade, there would be regional variations which would include faster growth in demand in emerging economies.
 
The report states: “Chicken meat will account for over half of the predicted increase in demand – perhaps reflecting the fact that, compared to other meat products, it isn’t subject to widespread religious prohibitions – and as a result it will become the world’s most consumed meat protein.”

Key protein supplier

It predicts that Brazil would continue to be a key supplier of all protein, producing more than 1kg in every 5kg of international trade.

India will become the world’s number one exporter of beef by 2017, up from its current position at number four.
 
As for the UK, HSBC’s head of food and agriculture Allan Wilkinson said that the economic environment faced by farmers and growers was now tougher than at any time for the past decade but he claimed that farmers who managed costs efficiently could be successful.

'Keep costs down'

“The Forward Planning booklet is designed to help farmers to plan for next year,”​ said Wilkinson. “Businesses across UK agriculture can build the price forecasts and target cost of production figures into their models to manage market volatility and keep costs down.”

“Although it is a tough operating environment for agriculture, prices will recover. At the same time, global demand is growing for British food products. Those who operate on a low cost model and who target overseas consumers are well-poised for long-term success.” 

Related topics: Brazil, Industry & Markets

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