Meatco pays N$1.1 billion to commercial farmers
During the 2019/20 financial year, Meatco managed to slaughter 116,304 cattle for which it paid N$1.1 billion to commercial farmers, which includes a premium of N$190-million above the South African parity price.
However, the drought during 2019/20 compelled local farmers to reduce the core herd and adjust their cattle numbers to the available grazing land, leading to 50% to 60% of all slaughtered cattle being of low quality and lighter weight.
Meatco’s 2019/20 financial report shows that the cattle slaughtered generated a revenue of N$1.7 billion, which is higher than the N$1.3 billion revenue generated in the 2018/19 financial year from the 62 086 cattle slaughtered.
Meatco’s Chairperson Martha Namundjebo-Tilahun said in the report that by March 2019, Meatco’s only factory in Windhoek was slaughtering 630 animals on average per day.
“The end result was that Meatco Windhoek slaughtered and processed the most carcasses in its existence for a single year,” she said.
Namundjebo-Tilahun said from the 116,304 cattle procured, 46% was C grades (average 25%), 15% Fat (average 11%) and 38% 1 and 2 conformation (average 22%), resulting in meat cuts being smaller, darker in colour and generally tougher.