Queensland abattoir the subject of another Chinese trading halt
China has suspended exports from yet another Australian beef plant, bringing the total number of suspensions to six. This is what an expert says it all might mean for the industry.
THE livestock industry has been the target of yet another trade suspension from China, with a Queensland meat processor the focus of the escalating political stoush with China.
The Weekly Times understands Chinese customs authorities announced this week Queensland meat supplier Mearamist was the target of a trade suspension, bringing the number of Australian livestock companies to be hit with restrictions to six.
IBISWorld senior industry analyst Liam Harrison said it was a case of “watching and waiting” to see if trade tensions with China would ease.
“Right now, we’re not 100 per cent sure where it’s going to go. We didn’t expect to be in this situation in the first place,” Mr Harrison said.
“Sometimes these situations can blow up very quickly, and then reel back just as quickly.”
Mr Harrison said China was using “economic needs” to build political capital.
But the red meat industry was in a slightly stronger position than other commodities which have been the target of Chinese trading halts, such as seafood and wine.
“Red meat is in a better position than other markets, because there are alternative markets,” Mr Harrison said.
But he said it would lose its premium chilled beef market.
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