New Zealand's meat industry will benefit from the TPP agreement
Meat producers from New Zealand are expecting to take back the market share in Japan as the TPP agreement has been signed. Even if the country faced an unexpected blow in losing an agreement on the Vietnamese market back in November, the access to Japanese market it is seen as a victorious comeback after three years of disadvantage in front of Australian competitors.
For Dave Harrison, Beef and Lamb's advocacy, the TPP agreement represents a big gain for the New Zealand's meat industry. Since 2015, when Australia signed a free trade agreement with Japan New Zealand producers have been exposed to an 11% tariff disadvantage. "Over that period their market share has grown cumulatively by 1 billion dollars while ours has dropped by about 30 million dollars.We will be able to get back in there and hopefully get back some of those gains", explained Harrison, cited by Radio NZ.
Last year, Japan imported 810.000 metric tonnes of beef, Australia playing the dominant role in this market at 53% share, followed by the US with 42%. New Zealand's beef market share in Japan is about 3%.
(Photo source: Pixabay)
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