Browse Data and Analysis

On February 22, 2024, India’s Ministry of Fisheries, Animal Husbandry and Dairying/Department of Animal Husbandry and Dairying, issued Office Memorandum File No. L-110109(3)/1/2016-Trade (E-2625) outlining the parameters for premium frozen duck meat for import into India.

UAE chicken meat imports are forecast to increase in 2024 as domestic production expansion is unable to fulfill rising demand. Brazil’s market share is expected to continue to grow.

The Canadian cattle herd continues its sustained contraction in 2024. A smaller beef cow inventory will see the 2024 calf crop decline. Improved cattle prices may signal improved heifer retention if moisture conditions and pastures improve, or producers could see this as an opportune time to maximize exiting the industry during a time of better returns.

Lower feed prices are expected to boost producer profits in 2024, thereby increasing domestic beef and pork production. Beef imports are forecast to decrease, and pork imports are expected to remain nearly flat.

Following a gradual decline in the national cattle herd over the previous years, breeding cow numbers for beef and dairy are looking to stabilize in 2024. At the end of 2023, a new national coalition government was elected.

Australian beef supply is forecast to climb after the herd rebuild period ends. The marked slowdown in the growth of the national herd is expected to drive a higher female slaughter rate, increase the overall supply of cattle for slaughter, and boost live cattle and beef exports in 2024.

FAS New Delhi (Post) forecasts India's market year (MY) 2024 (January-December) cattle herd at 307.42 million head, up marginally from 307.4 million head in 2023. A gradual pace of growth is likely to persist in the short- to medium-term.

On February 19, 2024, India's Ministry of Finance (MoF)/Department of Revenue issued Notification No. 10/2024-Customs in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i) (official gazette), lowering import duties levied on frozen turkey (meat) and edible offal, cranberries, and blueberries.

In February 2024, U.S. exporters regained market access to the Colombian poultry market, valued at over $100 million annually.

In 2023, Ukraine's cattle inventory and beef production remained on a three-decade-long downward trend. The decrease in consumer numbers and comparatively high beef prices resulted in a domestic consumption drop and increased exports of both live cattle for slaughter and beef.

Brazil is the second-largest chicken meat producer in the world after the United States, and the largest chicken meat exporter in the world.

Post forecasts economic headwinds will continue to impact consumption of both pork and beef in 2024. Swine and pork production in 2024 will be marginally down 3 percent as persistently low live hog and pork prices weigh on producers.