Following a record year of beef exports to Korea in 2016, Australia is looking to defend its position amidst contracting supply and competition from the US.
Beef processed outside of Australia but marketed as ‘Australian’ could be made illegal if MPs get their way, with a fine of more than US$1 million (m) being proposed.
Faced with a shortage of local beef supplies, a Chinese beef processor and importer has spent almost $3 million setting up Chinese online stores, which are portraying Australian beef as a healthy premium product.
An historical free trade agreement between Australia and China will start to yield fruit for Australian beef producers at the end of 2015, following the finalisation of the deal this week.
The Cattle Council of Australia (CCA) has said that its beef producers are ready to welcome the benefits brought by the Japan-Australia Economic Agreement (JAEPA), which enters into force on Thursday (15 January).
The Cattle Council of Australia (CCA) has said that "significant flow-through opportunities" exist for Australian beef producers following the signing of a China-Australia Free Trade Agreement (ChAFTA) today (17 November).
The new Japan-Australia Partnership Agreement (JAEPA), agreed on 8 April, allows unprecedented access to Japanese markets, but it is not necessarily only the Australian meat producers who will profit.
Australian beef cattle producer and agricultural business M P Evans Group has seen overall profit drop by 31%, it announced in its interim half-year results.
