AUSTRALIA, North Sydney. Meat & Livestock Australia (MLA) has recently updated its annual Global industry and trade reports – highlighting Australia’s position within global beef markets.
The report includes emerging opportunities and challenges for Australian red meat exports, the impact of Covid-19 on the global red meat industry, consumption and import trends across key import destinations and insights into the competitive landscape, covering exports, production levels and cost of production.
While 2020 was a particularly challenging year characterised by the far-reaching impact of Covid-19 and tight levels of Australian livestock supply, many opportunities for targeted growth remain. For instance, growing consumer interest and awareness of provenance, sustainability, animal welfare, safety and traceability provide messaging opportunities for Australian brands and underpin ambitious, industry-wide programs to further differentiate.
A key challenge in 2021 will be rising production and export volumes from key competitors, such as the US and Brazil. With Australian beef production expected to remain tight this year, there will be intensified competition for market share in the coming years, particularly within Asian markets. Additionally, Covid-19 has created a multitude of challenges that will certainly have flow-on effects for the foreseeable future, particularly pertaining to the foodservice and tourism industries.