Bloomberg agency I learned aboutWorld demand for barbecue steak has fallen sharply over the past year due to rising beef prices. First of all, this was typical for countries where this type of meat is most often eaten – Argentina, Brazil, England and the USA.
For example, beef consumption per capita in Argentina last year was 47.2 kg. Such data is provided by the manufacturer of this type of meat Ciccra. At the same time, this figure reached 68.7 kg in 2007. As stated in the article, rising prices are the reason for the decline in beef demand. As a result, Argentine residents began to consume more chicken meat, demand increased from 18 to 46 kg per person in 20 years.
The agency cites words from a Buenos Aires resident confirming the decline in demand for beef, and especially barbecue steak. According to him, if he’s been grilling steaks every weekend, now the last time was over a month ago. The interlocutor said that he used to order steak by the kilo, but now it is a luxury. A month ago he could only buy two steaks for the same price.
According to NielsenIQ statistics, which analyze the retail market and purchasing behavior, there has been a decline in beef demand in the US and UK. In the United States, such meat purchases decreased by 4%. Roast beef and steak sales fell in the UK. There, beef purchases from grocery stores and restaurants fell 5.8% in early 2023.
Bloomberg has predicted that demand for beef will continue to decline in 2023 in the US, Argentina and the UK. The article says that in the United States such meat purchases could fall by 5%, in Argentina – 2%.
According to the Ministry of Economic Development, the price of beef in Russia increased by 20.2% last year.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.