Global Beef Prices Exceed $7 Per Kilogram for the First Time

For the first time in history, the global price of beef has surpassed the $7 mark per kilogram. This record increase has occurred amid a series of problems in the production sector, according to data from the World Bank.

This is reported by AgroReview

Key Factors Driving Price Increases

According to analysts, beef prices have been steadily rising over the past five months. Just in October, there was another increase in the cost of a kilogram of beef by 3%. Compared to the same period last year, the price of this type of meat has risen by 17%.

“The price of beef worldwide has exceeded $7 per kilogram for the first time in history.”

The Impact of Global Trends and Climate Conditions

Experts note that one of the main reasons for the price increase has been difficulties in the dairy sector: rising costs of milk and dairy products are forcing farmers to reduce the number of cattle sent for slaughter for meat production. Additionally, there is increased demand for imported beef in the U.S., as the largest American producers have reduced supply volumes due to feed shortages.

Moreover, adverse weather conditions in Europe and Argentina have compelled farmers to decrease the number of cattle, which has also affected the overall beef production volume in the global market.