MADRID: Cheaper Spanish beef has helped drive the country’s exports to a record high for the first half of 2015.
Spanish beef exports for the first half of 2015 have reached an all-time high, according to the latest market report from Bord Bia’s Madrid office. Exports from January to June increased by almost 35% to more than 78,000t, with over 90% of beef exports destined for just four key markets.
The growth of the Spanish export market could have implications for the Irish trade.
Spain’s nearest neighbour, Portugal, is its most important market with almost 53% of exports. Other important destinations for Spanish beef exports include France (14%), as well as two of Ireland’s key markets for beef, Italy (13.5%) and the Netherlands (10.5%).
Spanish beef imports for the period were back 6.5% to just under 50,000t, with Ireland the fourth biggest supplier of beef to the Spanish market.
As domestic beef consumption has fallen in recent years (down 24% since 2008), the Spanish beef industry has concentrated on growing exports and reducing the market share of imported beef products.
The lower price of Spanish beef exports at €3/kg (vs an imported average of €6/kg) has allowed the sector to increase its share in markets where price point is still critical for consumers.
Overall, Spain increased its beef production for the first half of 2015 by 8% to almost 294,000t.
