As China’s middle class increases its buying power and adds more protein to its daily menu, Australia is taking advantage of China’s economy with higher beef shipments to the country.
Australia has been able to take advantage of both China’s expanding middle-class economy and China’s ban on beef from Brazil, set in place at the end of 2012 due to BSE concerns.
Quartz reports China’s total beef imports in the first four months of the year increased more than 10 times the same timeframe a year earlier and beef prices in China have increased by at least 30 percent per month for the past year. FarmOnline reports Australia exported 177,345 tons of beef in 2012-13, up 711 percent over the previous year.
Beef remains a secondary protein to pork in China. Quartz reports about 52 million tons of pork is consumed yearly compared to only 6.3 million tons of beef. Most of the pork consumed by the country is raised domestically, leaving little need for additional pork imports.