Australian beef prices are soaring at an unprecedented rate. At the same time, overseas buyers are also turning a blind eye to Australia's "high-priced" beef.
According to the latest report of ACB News on March 17, in January this year, the Eastern Australian Young Cattle Index (EYCI) rose by 300 cents from the same period last year to 888 cents/ kg, and the price increase was more than 51%. By February, the price of live cattle in Queensland, Australia, exceeded 1,000 Australian dollars per head (5,032 yuan).
As the price increase for young cattle widens, Australian consumers are also suffering from high beef prices. Brad Banducci, CEO of Woolworths, a well-known local supermarket chain, has warned that meat prices will rise sharply in 2021 and beef will be expensive! Some people engaged in meat slaughter revealed that they have been engaged in the slaughtering industry for nearly 41 years, and the price of beef has risen by 25% this year, and the increase in ordinary cut meat has reached 15%.
Australia's livestock industry is developed and rich in beef and mutton products, why are the price fluctuations so large? The Lianhe Zaobao reported in early March that the Australian cattle industry could not adapt for a while due to the outbreak of dry weather in 2019, and it has not eased up until now. At present, the size of Australia's cattle herd has fallen to the lowest level in nearly 30 years (since the 1990s), and Australian steaks are likely to withdraw from the international market.
It is reported that in order to restore the size of the cattle herd as soon as possible, Australian herders have cut the supply of beef, which has also boosted the soaring price of beef. At the same time, overseas buyers are also far away from the "high price" of Australian beef.
Data released by the Australian Department of Agriculture showed that in February, the country's red meat exports were only about 118,000 tonnes, a sharp decrease of about 22% from last year's 151,000 tonnes. Some media have broken the news that overseas customers of the Australian beef market - Indonesia, Japan, South Korea and other countries have planned to find other sources of beef supply.
Between May and December 2020, beef products from six Australian traders were unable to enter the Chinese market due to violations of inspection and quarantine requirements, which also worried Australian traders, as China is the largest buyer of Australian beef. By March of this year, the matter seemed to be turning around.
According to Australian media reports, on March 2, Pat Hutchinson, ceo of the Australian Meat Industry Council, revealed that China is negotiating with Australia, and it is estimated that 6 Australian meat companies, including MelaMister, are expected to resume exporting beef products to China. Up to now, China's relevant departments have not publicly responded to the above statements.
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