Page 10 - 2024-SJ-Beef-Week

Stock Journal Beef Week | 2024
Untapped beef market tipped to grow by 1324pc

By SHAN GOODWIN
F all the emerging green
shoots in the story of
OAustralian red meat
exports, there is one growth
forecast that would blow
the milk out of your tea.
In Indonesia, which is
already Australia’s number
one customer for live
cattle exports and fifth
largest customer for boxed
meat, it is expected red
meat consumption will
increase by a whopping
1324 per cent between
2009 and 2050.
Massive population
growth combined with
increased income for
average consumers and
a shift towards a more
westernised diet is making
this market, right on
Australia’s doorstep, one
of the most promising.
Phenomenal food
consumption growth
across the board is
projected for Indonesia
but red meat leads the
charge. By comparison,
sugar consumption growth
for the same period is
expected to be 552pc and
dairy 935pc.
The forecasts, from
ABARES, were discussed
among other positives
on the horizon for red
meat exports at a webinar
hosted by the Roundtable
group of independent Beef on sale in Indonesia, which is being forecast as a market of massive growth for Australian producers.
agents. Picture supplied by MLA
The point was made
while the potential for “And they are two products so there is an It now has a 45pc
Australian beef exports countries we now have opportunity for Australia market share of
on the back of shrinking a free trade agreement to access an entirely new Australian mutton
United States supply has with,” Mr Dalgleish said. market for sheep meat. exports, with the US
been the headline act, The United Nations’ “India has the potential in second place and
there were other markets Food and Agriculture to be a whole new China Malaysia - also showing
where phenomenal demand Organisation is forecasting for Australian sheep meat strong growth - in third.
growth was in the pipeline. it’s unlikely India will want exports. In the US, chicken
Episode 3 analyst Matt to import beef or sheep “And while cows commands the top
Dalgleish said India also meat but Mr Dalgleish are a sacred animal to spot in terms of meat
had the potential to rival - disagrees, at least for Hindus and therefore not consumption, with pork
even exceed - China’s sheep meat. eaten, there is a sizeable and beef battling it out for
phenomenal recent track “They do have their own Christian community of second place, while lamb
record on mutton imports sheep flock but if we look around 33 million people is not as familiar a dish.
from Australia. at the demand for sheep in India who eat beef. But lamb is a real
He said Indonesia and meat that has come out of “That’s the size of the growth prospect in the US,
India were somewhat China as they’ve become Australian market plus Mr Dalgleish said.
overlooked because the wealthier and more attuned another 8m.” “The fact it’s already
capacity in terms of how to western diets, there is a China’s intake of such a big market for
much red meat the average precedent,” he said. Australian mutton Australian lamb, yet the
person eats was not big. “There will be people in throughout 2023 was at average US consumer
But the sheer size of India - in the food service record levels and remained doesn’t eat a lot of it, says
the population, and the and high-end restaurant above the long-term 70pc there is a lot of untapped
emerging middle class in trade - who will want to ‘normal range’, Episode 3 opportunity still there,”
particular, overrides that. differentiate red meat analysis shows. he said.
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