EU Beef Prices in free fall, an opportunity for 3rd countries
According to the latest report on the Beef & Veal Market Situation from the European Commission, the average market price of the EU beef has steadily declined since the outbreak of the virus. This is especially true for Spain, which is among the worst-hit countries by the Covid19 epidemic.
Besides, the EU farmers’ association Copa-Cogeca, have pointed out that the loss of the Food service and catering channels have had a pronounced impact on the price of EU beef, as the demand for high-value cuts, which represents 30 % of the total carcass value, has experienced serious drops.
However, as Albert Einstein said: “In de midst of every crisis, lies great opportunity”, this situation will offer to other countries a great opportunity to import High-Value beef cuts for unusually low prices.