Australia becomes the world's most valuable beef exporter
Australia has surpassed the United States and Brazil in value of the beef exported last year, according to MLA data. 7.3 million tonnes swt of beef/veal have been exported on a global scale in 2019, with Brazil leading the top of exporter by volume ( almost 1.6 million tonnes).
However, Australia managed to achieve better earnings for its share of 1.2 million tonnes of beef exported last year. The value of Australian beef exports is $7.5 billion, making the country the most valuable beef exporter in the world. In the second place comes the United States, with almost $7 billion achieved for nearly 1 million tonnes of beef. Bazil has taken the third place with $6.5 billion for the beef exported last year.
"A 9% increase in export volume, combined with an average US exchange rate of 69.5 cents enabled Australia’s beef export value to expand by 17% on 2018. The prominent recipient of this growth was China, who as a single destination for Australian beef, contributed US$1.85 billion for the year, up a staggering US$883 million from 2018. Australia’s second most valuable market was Japan, contributing US$1.63 billion, back 3% on 2018," according to the analysis.
However, the competition in the global market is going to increase this year, as US beef is gaining ground in several big Asian markets such as South Korea and Japan and Brazilian beef has entered Indonesia.
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