Between January and May of 2013 the value of boxed beef exports to China has increased tenfold over the same time period in 2012. Although shipments are showing a rapid increase in demand, the data range is not long enough to determine if this will prove to be a sustained, long-term increase in demand. The National Australia Bank expects the surge in exports to China to be maintained citing the underlying drivers of a rapidly growing middle class consuming more protein and a weaker Australian dollar. In order to export to China, accreditation is needed and currently only one beef processor has such accreditation in place. There also is no current protocol for exporting live cattle to China, however, there is work being done to see these protocols established.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service