US beef can now compete with Australian products in China

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After 13 years of exclusion, China is opening its beef market to US exports. The deal, set to be finalised in July, will cause some consternation to Australia’s beef sector. Until recently the antipodeans had something of a monopoly when it came to providing China with beef free of hormone growth promotants (HGP). While American HGP-free beef sells for a premium on the domestic market, expectations are that in the near future, the US and Australia will be competing for Chinese market share, with the potential to transform perishables supply chains into the world’s most populous country. Speaking to ABC News, the US Meat Exporters Federation says China has the potential to be a very significant market for the US.