Brazil expects to capitalize on China-Australia trade war
As China is moving away from several beef producers in Australia due to diplomatic disputes between the two countries, Brazil expects to increase its share in the Chinese beef market. According to data collected by the Animal Protein Association (ABPA), China already accounts for 17% of chicken meat exported by Brazil and with 50.7% of total pork exports.
According to the president of the Brazil-China Chamber of Industry and Commerce, Charles Tang, even with the reconstitution of the Chinese herds, the Asian country's appetite for Brazilian meat should continue. “China is quickly rebuilding its breeding stock and, as a result, will have to import a lot of grain to feed its animals. However, protein consumption should continue to grow, especially for beef, since there is no space in China to raise cattle ”, he explains.
After Australian Prime Minister Scott Morrison attacked Chinese national interests, the Asian country moved away from buying from several Australian meatpackers, in addition to cutting imports and taxing barley. “The Australian economy is suffering a lot from these import cuts. And I believe that Brazil will not want a trade war with China, as is happening now with Australia ”, he added.
A recent forecast from USDA foresees a decline in China's beef output of 3% (6.7 million tonnes less than last year), which opens the door for imported beef.
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