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Australia has concluded an export agreement with China for the supply of cattle
The agreement opens up a lucrative market for the fourth largest exporter of beef
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Australia said Monday that it has signed a contract that will allow her to become the first country that exports of live cattle for slaughter in China. Trade, estimates that each year will bring A$2 billion ($1.5 billion) in the next decade.

Deal agreed on last year, but China has delayed its completion because of concerns about potential threats from insect-borne bluetongue virus to sheep.

But after several months of negotiations were agreed upon rules to minimize the risk of the disease, reported the Ministry of agriculture of Australia.

Private exporters and importers will have to comply with the new rules before trading can begin, but the agreement will allow to export 40 000-50 000 heads of cattle in China.

The agreement will help ease the shortage of red meat in China, according to analysts, could significantly alter the local market in the absence of restrictions on imports.

If China will allow the importation of live cattle in large quantities, it will affect the market, said analysts at Rabobank. Mill is not only able to focus on the domestic market, but also to focus on exports as the prices of the steaks, for example, in Japan is much higher than in China.

However, Chinese traders said that the rapid growth of live cattle exports is unlikely because there are a limited number of quarantine sites for Australian cattle.

Beef consumption in China, according to forecasts, will grow by about 2.2 percent annually - faster than the consumption of pork and poultry, according to Rabobank.

By 2025, 80% of consumer demand in China will be met by the local offer, which is below the 85% currently, according to estimates from the Bank until the conclusion of the agreement.

The agreement opens up a lucrative market for the fourth largest exporter of beef in the world, the main buyer - Indonesia - recently reduced import quotas, more than 80%.

The pastoral industry of Australia welcomed the agreement, hoping that it will help offset the impact of changes in demand in Indonesia.

 

 

 



Translated by the service "Yandex.Translation"
Источники: Agro2b
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