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Monday, 21 September 2009

US to sell beef at higher prices to EU

According to a report by Farm Futures, there is an increased amount of US beef which will go to the European Union as a result of a duty-free, high quality beef quota agreement. United States Meat Export Federation expert, Thad Lively has said that the lack of grain-fed beef in the market creates a big opportunity, according to the report. Mr Lively added that the quota will provide the opportunity to the highest value end of the market. A deal has been established which states that the EU’s 20% tariff is eliminated and because of this, according to Lively, there is an expectation that over the coming three to five years, the US will be providing approximately 70,000 metric tonnes of beef per year to the EU.
Source: Farm Futures