Meatco eyes high US beef prices

September 14, 2021

Meatco says it has started scouting for new clients in the United States, citing high beef prices offered in the country.

Meatco last year became the first African country to export beef to the US under the African Growth Opportunity Act and to date, 720 tonnes of beef products have been exported to the country.

“In the United States Market, there is a demand for especially grass-fed hormone-free beef as local prices are high. Meatco is currently focusing on acquiring new clients in the USA to engage more interest in our product,” Meatco CEO, Mwilima Mushokabanji said in a trading update.

He said the opening up of Europe after many countries had imposed COVID-19 lockdowns, was a positive development for the company, which export a bulk of its products to the market.

“As Europe is slowly re-opening, we are witnessing an increased demand for beef. Many European importers have been nervous to import unless already presold, as the HORECA (hospitality Industry) market has been opened and closed often in most cases with little to no warning. However, we are seeing good prices on round cuts and items such as Pichania and Rump Tails. Main steak cuts are recovering although, yet to climb back to normal levels due to the effects of the COVID-19 Pandemic,” Mushokabanji said.

He said demand from the Chinese market was encouraging, after Namibia was approved access to the market in March 2019, becoming the first African country to sign a beef export agreement with China in 2015.

“The Chinese Market remains well on track, the demand from the market is predominately for boneless and bone-in cuts which make it our most lucrative market,” the Meatco CEO said.

Year to date, Meatco has slaughtered over 22, 000 cattle as part of the financial year’s budget.

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Last modified on Sunday, 19 September 2021 08:40

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