Vietnam's beef imports from Australia jumps 80%

Australia is set to grab 80% of Vietnam's total beef import this year, Vietnamese trade officials said.

Meat imports from Australia and other countries would further increase once the 12-nation Trans-Pacific Partnership trade pact takes effect, the officials predicted. The TPP includes both Vietnam and Australia.

Nguyen Dang Vang, head of Vietnam's Livestock Association, said at a meat and livestock conference in Ho Chi Minh City recently that Australia's share of imported cattle this year is set to reach US$200 million of the US$250 million market for live and slaughtered cattle.

"The trend of importing meat and livestock products will continue in the future especially after Vietnam has joined the TPP," Mr. Vang told a local news agency.

Already, Vietnam has surpassed China to become the second-largest importer of Australian cattle, behind Indonesia. Shipments are expected to double to 130,000 head this year from almost 67,000 last year, according to Vietnamese and Australian meat traders. In the first seven months of 2014, the number of head already reached 120,000, records showed.