World Beef Exports, Trade Projected to Grow in 2017Wednesday, December 7, 2016
(North American Meat Institute)
Beef production and consumption among major beef countries is expected to grow in 2017, according to estimates from the Foreign Agricultural Service (FAS). In addition to the U.S., where beef production and consumption are increasing, beef production is expected to rise in Brazil, China, India and Argentina in 2017, while remaining steady in the European Union (EU). Production is projected to decline, however, in Australia, following the lingering impact of drought-forced liquidation in 2014 and 2015. Meanwhile, FAS expects beef consumption to expand in China, Brazil, Argentina, India, Mexico, Pakistan and Turkey, with a modest year-over-year decrease in the EU.
In terms of trade, Australia and New Zealand are expected to experience continued reductions in beef exports, which should be offset by increased beef exports from Brazil, India and the U.S. Despite lower U.S. beef imports in 2016 and additional reductions projected for 2017, total beef imports among major beef importing countries are expected to increase year-over-year in 2016 and 2017. China is currently on pace to surpass the U.S. as the largest beef importing country in the next two or three years, according to FAS estimates.share on facebook share on twitter