Global meat production is forecast to expand in 2018, intensifying trade competition in international markets and seeing different types of animal proteins increasingly vie for the consumer dollar, according to a newly-released international report.
Rabobank’s Global Animal Protein Outlook for 2018 report expects production increases in all major regions of the world — with total growth once again surpassing the 10-year average.
Australian meat production is forecast to increase slightly, as the country’s beef herd and sheep flock rebuild from recent years’ lows.
The increased availability of animal protein around the world will fuel competition, creating downward pressure on prices and margins and increasing the focus on trade, according to Rabobank’s Australian-based senior animal proteins analyst Angus Gidley-Baird.
‘‘Rabobank expects trade to represent an important area of both uncertainty and opportunity for the global animal proteins sector over the coming year,’’ Mr Gidley-Baird said. ‘‘Trade will be the top-of-mind issue for global animal protein as we head into a new year, and enhancing competitiveness is going to be critical for success.’’
The report says Brazil, China and the United States will be the main drivers of global meat production growth in 2018.
And in terms of animal species, beef will join pork as a strong contributor to global expansion of production.