Canadians enjoy their beef, although consumption has been declining over the past decade.
That from J.P. Gervais, chief agricultural economist for Farm Credit Canada (FCC), who was highlighting a key finding in FCC's 2015 Beef Sector Report.
The report shows that Canadian consumers have been willing to pay more for beef since 2011, even while per capita consumption trended down.
"The declining per capita consumption trend over the past decade suggests a number of factors are influencing consumer behaviour, but it says nothing about their appetite for beef," said Gervais.
Despite the domestic decline in consumption, FCC expects to see growth in global exports and beef consumption, driven primarily by Hong Kong, China and various emerging economies.
World consumption of beef is projected to grow by 12 per cent over the next 10 years according to Organization for Economic Co-operation and Development and United Nations joint 2014 Agriculture Outlook.
Source : PortageOnline