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Business / Industries

Australian beef exporters banking on China

(Xinhua) Updated: 2014-09-06 17:07

In a statement, Forrest said, "Harvey Beef has been an iconic brand for almost a century. Following detailed discussions with the Chinese leadership, we are determined to ensure that the Australian agricultural industry's future in China is just as bright as our mining future."

Meanwhile, the Department of Agriculture and Food and WA will share expertise and technical knowledge with counterparts in Hainan with a focus on livestock including beef supply chain strategies to expand feedlot and beef processing opportunities.

Australian beef exporters banking on China
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Live exporters and the WA state government have also signed two similar deals with sister State Zhejiang. "We are leading the way in opening up live cattle and exports via Hainan island, a natural landing place for livestock from WA," Baston said.

It is believed a Hainan processor had initial talks with billionaire Andrew Forrest and Elders about live cattle exports.

Paul Bloxham, Chief Economist of HSBC Bank (Australia and New Zealand), told Xinhua, with mining investment now falling, resource exports will eventually plateau.

"The question then becomes, where will Australia's new trade opportunities lie? As with the resources boom, these new opportunities are likely to come from emerging Asia.

"Agriculture should be a key sector to benefit," Bloxham said, "as growing emerging market incomes boost demand for agricultural commodities, goods for which Australia is already a leader in global export markets.

"Rising incomes in Asia should also present significant trade opportunities for the tourism, education and business services sectors. The global center of activity is shifting increasingly towards Asia and Australia is well-placed to continue to take advantage of the opportunities this will present."

The global middle class is projected to increase by 1.3 billion by 2030 - with most of this growth in emerging Asia.

New and hungry consumers on Australia's regional "doorstep" now present the most promising opportunities for Australia's trade beyond the mining boom.

And even the miners themselves now have a stake in it.

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