Exports Australien market conditions shifted
Beef exports for 2019 have been strong and, with one month to go in the year, total export volume sits at 1.11 mill. t shipped weight (swt), 8% above 2018 for the year-to-November period. Growth of grassfed beef exports has been huge, with an additional 73,500 t swt (10%) shipped so far this year. Grainfed beef shipments grew by 5,000 t swt, up 2% on last year.
Beef exports to the US and Indonesia have remained steady however the majority of other markets are down as a result of surging demand from China. China has accounted for all of Australia’s additional export volume in 2019 and then some, expanding by 119,000 t swt. Subsequently, China’s share of total Australian beef exports has increased from 14% in 2018 to 24% this year – now sitting even with traditional powerhouse, Japan. Assuming December volumes replicate November, Japan will relinquish the title of Australia’s top beef export destination to China.