Beef consumption in China is expected to grow 5.1% in 2014 to reach 6.26 million tons – 65,000 tons more than was previously predicted making China the third ranking beef consuming country in the world after the U.S. and Brazil. Forecasts for China’s beef imports for 2014 have been raised to 550,000 tons – a significant 19% increase in only three years, and tying China with Hong Kong for fourth largest beef importer. This increase in demand from China is bringing a positive impact on Canadian exports to China which increased six-fold to 24,373 tons in 2013, and Australian exports which set a record for January of 64,642 tons. Positive impacts are also being seen in the feed sectors as demand increases for feed to support weight gain in beef cattle, corn and alfalfa imports could see increases in the future as well.
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