China to remain a dominant buyer in the global beef market
Growing demand for beef in China will stay in place for a few years, predicted a team of analysts from ROSGAN, the Mercantile Exchange of Rosario, Argentina.
Over the last 5 years, increased demand for beef in China has changed dramatically the export map for Argentina, who is currently shipping more than 73 of its beef exports in the Asian country. "In 2015 China carried 30.1% of our total exports - chilled, frozen and processed meat without including giblets - while currently, its participation amounts to 73.4% of the total market", observes ROSGAN, quoted by DeFrenteAlCampo magazine.
The volumes shipped to China have tripled over the last 5 years, going from about 100,000 tonnes in 2015 to about 345,000 tonnes in January-September of the current year. Also, the situation has reduced the Argentinian exposure on traditional markets such as Russia or Chile, mentioned ROSGAN in its report. Since June, Argentina has become the main supplier of beef in the Chinese market and the volume of exports is expected to grow in 2020.
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