Japan is one step closer to re-open the Chinese beef market
After 19 years of absence in the Chinese market, Japanese beef is ready to regain access to China. Authorities on both sides have confirmed the signing of an agreement on animal health and quarantine, informs the Global Times. Japan's exports of beef to China have been banned since 2001 due to an outbreak of mad cow disease.
While at the moment, China's imports of meat are rising due to a deficit of animal protein in this market in the long-term this market is expected to offer benefits for high-quality beef producers. "It can be said that the pig disease has boosted demand for protein imports, but in the long term the Chinese market is becoming ever so attractive because it's been gaining value," explained Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, quoted by the newspaper.
In 2018, China imported more than 900,000 tonnes of beef and the volume is expected to grow by 22% in the next 5 years, according to a report by the Ministry of Agriculture and Rural Affairs. China has already altered the global beef trade by demanding more and more beef from Brazil, Australia, Argentina, Uruguay and New Zealand to the point that those major players have re-routed their exports and increased prices in their domestic markets.
"Over the next 4 to 5 years, as experts are saying, we expect meat imports to remain high. At this moment, there is a good opportunity for businesses to take a chance", described the situation in China Jorge Torelli, vice-president of IPCVA, for EuroMeat News. He also explained that Argentinian producers are hoping to keep their market share in China in the future thanks to the newly developed appetite for high-quality beef of the Chinese middle-class consumer.
At the same time, Uruguay is increasing its presence in the Chinese beef market by shipping here almost 60% of the beef exported. "We are still looking to strengthen our presence in China's growing meat market. Chinese customers have a rising demand for good beef on their tables, and Uruguayan companies are very proud to present them with their high-quality products," declared Uruguayan Ambassador to China Fernando Lugris.
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