Chinese hunger for protein beefs-up exports

Increasing Chinese demand for protein has propelled Australia to pole position among the world’s beef exporters.

Australia has been named world’s most valuable beef exporter. Picture: Andy Rogers

AUSTRALIA has been named the world’s most valuable beef exporter last year in a new report, with increased Chinese demand for protein valued at $1.33 billion alone.

The Meat and Livestock Australia report, published today, put Australian beef exports at $10.8 billion for 2019, and placed Australia second in terms of global volume of beef exports.

Brazil was identified as the world’s largest exporter on a volume basis, exporting 1.57 million tonnes shipped weight of fresh and frozen beef.

The effect of a 9 per cent increase in volume, coupled with an average US exchange rate of 69.5 cents, helped Australia’s beef export value to jump 17 per cent compared to 2018.

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China was a key contributor to the dramatic lift in value and export demand, while Australia’s second most valuable market, Japan, dropped back 3 per cent on 2018.

Brazilian beef exports to China were about 500,000 tonnes shipped weight, up a whopping 54 per cent on 2018 and encompassing 32 per cent of total Brazilian exports in 2019.

The report flagged 2020 as a “dynamic and competitive year” for Australian beef exports.

African swine fever and tightening domestic beef supply, along with expanding international supply, will be factors influencing the market this year.