Cattle prices across some of the new European members are on the rise.
The Irish Food Board, Bord Bia, reports some cattle prices in Poland already up 49% since the start of the year and around 30% since accession.
Meanwhile the Czech Republic has seen prices rise 11% since the beginning of the year and around 6% since accession. Hungary’s prices have also risen by 8% since accession at the beginning of May.
The rise is expected to continue in the short term, claimed economists, and the EU Commission has forecast average cattle prices across the new states would begin to converge with the average EU15 prices. This will be helped by the fact cattle supplies in those countries are being reported as tight at the moment.
In the medium term, the EU expects self-sufficiency in beef within the new member states to continue to decline and by 2009, self-sufficiency in Poland, Hungary and Czech republic will be 72%, 83% and 83%.