Producer share of retail beef price is closer to two-thirds - Meat Industry Ireland
Commenting on recent claims in relation to the share of retail beef price received by producers, Meat Industry Ireland (MII) today said: “It is important to set the record straight on this issue. Suggestions that farmers receive 20% of every €10 spent by consumers of beef in retail outlets are inaccurate. In fact, the producer share of retail beef prices is closer to two-thirds.
“Based on independently published data on Irish retail sales prices, on the mix of beef cuts purchased by Irish consumers and the yield factors involved, the actual price paid to beef producers represents 63% of the average retail beef price on a carcase weight equivalent basis. This can be independently verified.
“The same pattern of producer share of retail market price is evident in other EU markets where Irish beef sales predominate (UK; Germany; France; Holland).
“Independent commentators recognise that there is a very weak beef market, primarily caused by a very poor demand, across all major export markets as well as the uncertainty created by the risk of a No-Deal Brexit in two months. While no one disputes that current market returns have driven cattle prices to a 5-year low, inaccurate statements on share of return from the marketplace do not help to resolve the critical challenges faced by the entire beef sector.”