NZ beef consumption to remain consistent in 2025 - GAIN
New Zealand consumers shifting from beef to chicken consumption
22 October 2024
1 minute read
By: The US Department of Agriculture's Foreign Agricultural Service post in New Zealand forecasts Domestic consumption for 2025 MY to be consistent with the outgoing year at 72,000 MT CWE, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report.
With the continued high official cash rate and inflationary pressure on households continuing, discretionary spending remains low.
In New Zealand beef is not the most consumed source of protein (~22%), as in recent years’ consumer’s preference has been shifting to chicken (~33%).
In addition to producers putting more focus on international markets, where domestic consumption was almost 20% of total production a decade ago, now only represents 9.5% of production.
FAS/Wellington maintains the USDA Official at 72,000 MT CWE for 2024. With the already highlighted fiscal challenges on domestic households brought on by food inflation (see Figure 10). Historically, consumer preference changes on meat types when inflation is high and as a result discretionary spending is low.
