There has recently been a large increase in the demand for meat in the US. According to Drovers, America's beef business source, meat exports have increased to a record $11.5 billion. This record has given a positive boost in the food industry due to the large numbers in international exports. Largest meat dealers include Japan, Canada, the Middle East, and many Latin American countries. One can notice that the US could be leading into becoming the main resource of meat in the world. The US has created multiple programs around the world that ensures consumer confidence in their products such as "We Care" in Japan and "To Trust"in South Korea. These programs will help the US in managing long lasting relationships with consumers all around the world.
One other positive aspect to this increase is not only has the meat industry increase its exports, but also the soybean and corn industry, allowing a better positive increase in the food industry in general. Because cattle such a cows and lamb consume corn and therefore helps with US exports to other countries.
This recent development the US has a promising future for the food industry. The US, as the main distributors, could enjoy a large revenue from exporting their high quality meat to other countries in the world for times to come.
Works Cited:
"U.S. Red Meat Exports Top $11.5 Billion in 2011 Latest News - Editorial, Grain & Cattle Markets, Current Stories." America's Beef Business Source - Cattle News, Editorial & Markets Drovers CattleNetwork. 10 Feb. 2012. Web. 13 Feb. 2012. <http://www.cattlenetwork.com/cattle-news/latest/US-red-meat-exports-top-115-billion-in-2011-139121399.html>.
Nice connection to the economics of the industry.
ReplyDeleteMy food&bev group did not discuss meat so this is interesting to me. Also, I like that you broke up current events into Food and Beverage.
I feel that this article goes nicely with Aviva's first article regarding coconut water. The sales of coconut water has been increasing steadily recently due to it's appealing trait of being natural, but still a great rehydration tool. However, coconut water is mostly purchased by the wealthier part of the population because it is generally more expensive than other sodas, sports drinks, and juices. Similarly, meat is often considered a "luxury" food since meats such as steak are expensive. This shows that as the trend of "the rich become richer and the poor become poorer" continues, the rich as buying more high-end foods and beverages such as coconut water and meats.
ReplyDeleteThis can also be seen as a trend that is gaining popularity in the United States, which would make sense with the demand of meats in the U.S. to increase so dramatically. This may mean more companies will focus in on the meat portion of the food and beverage industry, as paying attention to trends is one important way for companies to earn profits.
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