Live cattle trade: Australia could earn $2b from exports to China, Agriculture Minister Barnaby Joyce says
Agriculture Minister Barnaby Joyce has signed a deal which will see Australia export live cattle to Beijing.
It comes after Indonesia recently slashed live cattle imports from Australia.
“It’s the result of hard work over a long period of time,” Mr Joyce said.
“It gives people a real sense … that we have a strong future in the protein market, for which live cattle are a vital part.”
Mr Joyce says he hopes the deal will soon see Australia earning up to $2 billion a year from both breeder and live cattle exports to China.
“The 117,000 breeder cattle we sold last year was worth about a quarter of a billion dollars to us,” he said.
“Now we’re hoping that over about a decade we can take these numbers up … we’re the first nation to crack this market in slaughter cattle.
“If we can take that to about a million head, that’s in rough terms between $1 billion and $2 billion.”
Mr Joyce said he hoped the first head of cattle could be exported within months.
“We can turn this deal around very quickly,” he said.
(Source – http://www.abc.net.au/news/2015-07-20/australia-to-earn-242b-from-live-cattle-exports-to-china3a-jo/6635030)