The market for Australian beef exports is expected to continue to grow, despite ongoing challenges. Whilst the breeding herd has decreased significantly due to the drought, data from 2018-19 demonstrated a third successive year of growth with 1.16 million tonnes of Australian beef being exported. Furthermore, 2.3 million tonnes of beef was produced in Australia in the past 12 months, representing a 6 per cent increase. These figures show the consistent strength of the beef industry despite additional challenges such as radical vegan movements and the development of “fake” plant-based meat. The success can be attributed to various factors including world population growth, increasing wealth, a drop in the Australian exchange rate and increased beef consumption in Asia and America. Competition is high with other mega producers such as America, however it is predicted that global demand for red meat will continue to rise, particularly in Asia.
Update on the Beef Exports Industry
Aug 9, 2019