Australia is one of the world's most efficient producers of cattle and the world's third largest exporter of beef. The off-farm value (domestic expenditure plus export value) of the Australian beef and cattle industry was $16.85 billion in 2016-17 (ABS, MLA estimate).
The global outlook for beef and veal demand is steady, with countries including China and Japan increasing both imports and consumption in 2017, however consumption in Korea has decreased for the first time in five years. Australia's export market is declining, with Japan representing the biggest export market during 2017 with 292,000t shipped weight (swt) exported (29 percent of the total export market and valued at about $1.9 billion). This represents an 11 percent increase in exports to Japan, with global exports steady at 1.01 million tonnes swt. Global prices are reflecting the increasing demand for protein. Global production is also forecast to increase over 2018, which reaffirms the need for Australia to position itself globally as a supplier of a superior quality product to maintain market value.
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