December 12, 2013

China to become Australia's third-largest beef importer in 2013-14

Growing demand for beef in China is set to raise Australia's beef exports by 7% in 2013-14, cementing Australia's position as China's top supplier of beef, according to Reuters.

Australian Bureau of Agriculture and Resource Economics and Sciences (Abares) said Australia would ship a total of 1.085 million tonnes of beef in 2013-14, up 7% from the previous year.

Much of the growth in exports will come from China, which is expected to become Australia's third-largest beef importer in 2013-14, on track to overtake South Korea.

However, Australia could see cattle production fall in the next season. With the drought and the resulting re-stocking of cattle among farmers, the world's third-largest beef exporter has seen cattle stocks drop to a four-year low.