July 11, 2008

Australian beef sector demands price query

Australia's beef industry asked for a price discrepancy inquiry after cattle prices reached record levels in global markets while it fell in the domestic scene.

The Australian Beef Association said the country pays the lowest price in the developed world to red meat producers, with prices falling by 15 percent in the past year.

The Red Meat Action Group said the price discrepancy is a cause for an inquiry.

Gary Buller, group chairman, said a judicial inquiry would be more effective than a government or parliamentary inquiry.