April 21, 2006

China and US to discuss beef trade

President Bush is meeting with Chinese President Hu Jintao Friday (Apr 21) to discuss resuming beef trade.

Last week, during a meeting of the Joint Commission on Commerce and Trade, China said it would reopen its market to US beef. China has banned US beef since the first case of mad cow disease was announced in December of 2003.

China imported more than US$100 million worth of US beef annually before the ban. The country holds tremendous potential for the US beef industry, said National Cattlemen's Beef Association economist Greg Doud. With a population of 1.4 billion and rising incomes, Doud said there was no telling how big the Chinese beef export market could become.

China's beef consumption is expected to nearly double in the next 5 years, according to a report from the UN Food and Agricultural Organisation.