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Week Ahead: Stocks To Continue Climbing On Ongoing Easing; USD At Crossroads

Metals - May 08 2021 09:08:56pm


By Recep Tosun

Germany produced 8.47 million tonnes of meat in 2020, 1.6% (142,000 tonnes) lower compared to 2019, according to data released by the Federal Agency for Agriculture and Food (BLE ). In addition, meat exports and consumption of meat products also fell.

By sectors, pig meat production decreased by 2.4%, to 5.11 million tonnes. That of beef fell 2.7%, to a total of 1.09 million tonnes. Poultry meat production, however, increased by 1.7%, reaching approximately 1.64 million tonnes. Compared to 2019 and measured in carcass weight, imports of animals -especially pigs- decreased in 2020 by 14, 8%, reducing exports at the same time by 11%.

Trade with other countries also decreased, both for meat and for canned food and meat products. Thus, imported quantities were reduced by 7.8% compared to 2019, reaching the figure of 2.57 million tonnes. Exports, meanwhile, decreased by 6.5%, to 4.01 million tonnes. Likewise, BLE analysts indicate that, according to available data, the degree of meat supply in Germany in 2020 stands at 117.7%, thus maintaining practically the same percentage as the previous year. The degrees of supply of the different meat subsectors stand at 125%, in the case of pig meat, 94.6% in beef, and 97.2% for poultry meat. The lowest degree of supply was registered, with 40%, in the sheep and goat meat subsectors.