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China beef exports faltering

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Australia will sell less beef to China next year but more to Japan and South Korea, where free trade agreements are already in place, according to new export projections.

The forecast that beef and veal exports to China will fall four per cent to 120,000 tonnes in 2015/16 came before the Trade Minister introduced legislation for the the Australian-China free trade agreement in parliament.

Figures in the September forecast from the Australian Bureau of Agriculture Economics and Sciences (ABARES) show exports to Japan and South Korea – where free trade agreements are in place – should rise four per cent and five per cent respectively during the same period.

The report, said the falling Australian dollar and free trade agreements will help beef exports.