A sharp increase in prices is observed in the beef market in Finland. Wholesale prices for beef in the country have reached a historic high and have increased by approximately 25% over the past year. The main reasons for this are the increase in meat prices in the European market, the decrease in the volume of domestic production, and the export of live cattle abroad.
Meat processing companies are reporting an increasing cattle shortage across Europe. Demand exceeds supply, and buyers from Africa, Turkey, and the Middle East are increasing competition for Finnish cattle. Therefore, local enterprises are forced to pay farmers a high price to keep cattle in the country.
The price increase also affected consumers. Between July and September, retail beef prices increased by approximately 14%. Currently, one kilogram of minced beef is sold for 10-15 euros. Some buyers have started switching to cheaper chicken meat.
Experts warn that if the price of beef reaches 20 euros per kilogram, demand for it may drop sharply. This situation is likely to lead to the weakening of Finland's livestock sector in the future and the directing of products mainly to European markets.
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