Post by M. Hawbaker on Jul 15, 2021 18:55:50 GMT
In the U.S., sales of meat at grocery stores are down by more than 12% from a year ago. In Europe, overall beef demand is predicted to fall 1% this year. And in Argentina, home to one of the world’s most carnivorous populations, per-capita beef consumption has dropped almost 4% from 2020.
While some of those numbers might seem small, even a tenuous decline is a rarity in the meat world, which until the pandemic hit last year saw years-long growth in consumption to ever-new record highs. Now demand is waning across the globe in what could signal the start of a new broad shift away from animal protein.
The biggest demand deterrent has been a relentless climb for prices that started in October, propelled higher by tightness in global supplies of animal feed and supply-chain disruptions. The United Nations’ global meat price gauge has risen for eight straight months, the longest streak since 2011, and is near a multi-year high. The price shock comes at a time when consumers are still dealing with Covid’s economic fallout, forcing families from Brazil to the Philippines to buy less and swap in other proteins like eggs if they can afford it, or instead just fill their plates with rice or noodles.
www.bloomberg.com/news/articles/2021-07-01/meat-sales-hit-globally-with-higher-prices-climate-conscious-shoppers?utm_medium=cpc_social&utm_source=facebook_post&utm_campaign=mofu_content_0_[audience%20name]&utm_content=[expensivemeat]&fbclid=IwAR1_HUTRXjMPhaK6qiEXOHrFvHFsdQ18hpmlmnZFMTqBYC0WqD
While some of those numbers might seem small, even a tenuous decline is a rarity in the meat world, which until the pandemic hit last year saw years-long growth in consumption to ever-new record highs. Now demand is waning across the globe in what could signal the start of a new broad shift away from animal protein.
The biggest demand deterrent has been a relentless climb for prices that started in October, propelled higher by tightness in global supplies of animal feed and supply-chain disruptions. The United Nations’ global meat price gauge has risen for eight straight months, the longest streak since 2011, and is near a multi-year high. The price shock comes at a time when consumers are still dealing with Covid’s economic fallout, forcing families from Brazil to the Philippines to buy less and swap in other proteins like eggs if they can afford it, or instead just fill their plates with rice or noodles.
www.bloomberg.com/news/articles/2021-07-01/meat-sales-hit-globally-with-higher-prices-climate-conscious-shoppers?utm_medium=cpc_social&utm_source=facebook_post&utm_campaign=mofu_content_0_[audience%20name]&utm_content=[expensivemeat]&fbclid=IwAR1_HUTRXjMPhaK6qiEXOHrFvHFsdQ18hpmlmnZFMTqBYC0WqD
