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China Lifts Final Market Bans for Two Australian Beef Plants
As of December 3rd, 2024, two Australian beef plants (Plant 1620 Australia Country Choice Production Pty Ltd and Plant 243 John Dee Warwick Pty Ltd) were approved for export to China, according to the General Administration of Customs of the People’s Republic of China.
The plants were banned from China’s market from 2021 and 2020 amid strained relationships between the two trading partners.
“This is great news for Australian exporters, producers, and farmers... it’s a win for trade and a win for Australian jobs – something my Government will always back,” said Prime Minister Anthony Albanese.
Two Australian Beef Plants Anticipated to Resume Exports to China by Year’s End
On November 3, Australian Trade Minister Don Farrell met with China’s Commerce Minister Wang Wentao at the China International Import Expo (CIIE) in Shanghai, where Wang assured Farrell that China would lift its remaining trade restrictions on Australian exports.
Farrell noted that since last year’s expo, China has lifted tariffs on Australian wine and resumed exports from eight red meat facilities. China also plans to fully reopen its market to Australian rock lobsters by the end of this year.
Despite the progress, two Australian beef plants (Plant 1620...
ANALYSIS: Korea Poised for Early Activation of Safeguard Mechanism on Australian Beef Amid US Supply
Australian beef imports into Korea could face a tariff rate increase of 24.0% as the Special Agricultural Safeguard (SSG) mechanism is expected to activate earlier than in previous years. Korea's increasing reliance on Australian beef amid dwindling US supply has long suggested an earlier activation of the safeguard tariffs.
Under the Korea-Australia Free Trade Agreement (KAFTA), the safeguard volume for this year is set at 188,437 metric tonnes (mt). Any imports exceeding this safeguard volume limit in 2024 will incur a tariff rate of 24.0%...
ANALYSIS: Australia's Aug 2024 Beef Exports Dip from Record Highs; US-Bound Volumes at 9-Year High
Australia's August 2024 beef and veal exports scaled back from record highs to 121,797 metric tonnes (mt), the latest data from the Department of Agriculture, Fisheries, and Forestry (DAFF) revealed.
Volumes shed 6.3% (-8,201 mt) from July’s all time high of 129,998 mt. This decline was primarily driven by reduced exports to major clients such as Japan, China, and Korea, despite continued strength in exports to the tight United States (US) market.
Annually, exports surged by 19.0% (+19,446 mt), driven by increased...
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