China's demand lifts Aussie beef exports


The export outlook for Australian beef and veal had been boosted by the recent depreciation of the Aussie dollar along with brighter economic conditions in several key markets. Significant rises in demand from China and the Middle East is helping offset a slide in sales to the big three traditional overseas markets - the US, Japan and South Korea. Australian beef and veal exports are forecast to reach one million tonnes in 2013 and break the previous record set last year by 4%. Meat and Livestock Australia's (MLA) chief economist Tim McRae said after a sudden surge in demand at the end of 2012, China has continued as a promising market for Australian beef this year. Further boosting China's appetite for Australian beef was its reportedly low national cattle herd which had caused a shortage of local beef. MLA said Australian beef and veal exports to China during the first half of 2013 reached 62,421 tonnes, up significantly from the 3048 tonnes in the same period in 2012.