China poised to become the largest beef consumer by 2015

By 2015, China could become the largest consumer of beef in the world, accounting for over 50% of the world beef trade.

According to Sergey Yushin, head of the Executive Committee of the Russian National Meat Association, the predicted surge in demand for beef in China and Southeast Asia could result in a sharp rise in prices. Yushin also added that by 2015 China will be able to export up to five million tonnes of beef a year.

China's demand for beef may cause a shortage of beef in Russia, which is currently continuing the development of the national cattle industry. According to Yushin's estimates, the projected increase in beef production in Russia by 300,000 tonnes will require additional investment of more than EUR4 billion (US$5.4 billion).

Currently, the share of beef cattle in total cattle population in Russia still accounts for only 2%, with the remaining 98% for dairy herd. Beef cattle breeding continue to be an unprofitable business for many Russian farmers despite the excellent conditions for its development in terms of climate, water, land and pastures.