The trade conflict between the EU and the US can also influence meat prices in Europe. The background is the possible rates for American soybeans that are used in processed form as animal feed.
“It can make meat more expensive,” said Hermann-Josef Baaken, the director of the German association, as the “Handelsblatt” first reported.
USA Large Soy supplier
The United States are an important supplier of soybeans to Europe and the largest for Germany, a particularly important market. The soy is processed into soybean flour – and this is an important part of food for pigs, poultry and cattle and indispensable due to the high protein content. Only in the EU are there not enough large quantities. A lot of soy also comes from Brazil.
The association of the meat industry in Germany also expects the purchasing costs for soy to rise due to EU -criminal tasks. And as a result, the costs of the owners of the animal and the prices for animal products. General director Steffen Reiter said: “How high price increases could be, cannot be estimated.” The amount of the rates is not yet determined, and it is also unclear whether and with what quantities of other delivery countries can replace the American input.
“So many soybeans than ever”
In response to the American rates that have been put into operation on steel and aluminum import, the EU recently announced countermeasures for American products. From April, new rates must be due in a first step for the import of whiskey, jeans, motorcycles and peanut butter. Other EU extracölle could follow in mid-April and meet the agricultural products imported from the US, such as soy.
According to AMI market expert Nadja Pooh, the Global Soy offer is currently large. “We’ve never had as many soybeans as at the moment.” In addition to Brazil, other important delivery countries were also Ukraine. It is conceivable to switch to other supply sources, according to the German Farmers’ Association. General secretary Bernhard Krüsken still expects the rates to have an impact on the prices.
The federal association of the German food trade was similar. “Customs is at the expense of consumers. This is bad, especially in economically difficult times,” said director Philipp Hennierkes. The largest meat group in Germany Tönnies did not want to comment on the subject of the DPA request.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
