Global beef prices exceed $7 per kilogram for the first time in history
The global price of beef has exceeded $7 per kilogram for the first time in history. This record price increase is due to producer problems, according to World Bank data.
Analysts noted that meat prices have been rising for the fifth consecutive month. In October, the price of a kilogram of beef increased by another three percent.
Compared to prices last year, the increase was 17 percent.
Experts attribute the price increase to the global situation: due to rising prices for milk and milk products, farmers are reducing the number of livestock dedicated to meat production.
Furthermore, demand for imported beef in the United States has increased as major American producers have begun supplying less meat to the market. The main reason is feed shortages.
It is noted that due to unfavorable weather conditions, farmers in Europe and Argentina are reducing their livestock herds.
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