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Foreign media: International beef companies are optimistic about the Chinese market

View: 4 Author: Site Editor Publish Time: 2022-09-07 Origin: site

International beef companies are optimistic about the Chinese market

Reference News Network reported on September 6, according to the Australian Broadcasting Corporation website reported on September 4, China's demand for beef has broken records this year, and analysts say the next big item on their shopping list will be coal.
In July, China imported 270,000 tonnes of beef from around the world worth a record $1.9 billion, the report said. The beef price chart in China looks like a plane taking off, said Brett Stewart, president of Global Agricultural Trends in the United States.
"The average import price in July was the highest ever. Not only did China buy a record amount of beef, but it paid a record price for
it," he said. Stewart said China was buying from South American countries Brazil, Argentina and Uruguay purchases beef, however, its surging demand will also affect all countries.
"In 2023, China will be the No. 1 market for U.S. beef, and it will be the No. 1 market in my lifetime," he said. "I don't think we'll see another country come close to that. The Chinese have a strong appetite for beef.
China is Australia‚Äôs third-largest beef export market in 2022, and although there are still many slaughterhouses unable to export to China, Australia has so far this year, the report said Exported 85,000 tons of beef.
Stewart said Australia had an enviable advantage as global beef demand increased. "Around the world, beef cattle supplies are tight, but Australia is now in the second year of a massive recovery in cattle herds. The only country in a position to increase beef production is Australia," he said.