Agricultural News
Growing Demand in Asia Drives US Beef Exports Beyond Expectations in 2016 - Can We Keep It Up
Thu, 09 Feb 2017 12:35:58 CST
The final numbers illustrating 2016's beef export performance are in and they look really good. Phil Seng is president of the US Meat Export Federation. He told Radio Oklahoma Ag Network Farm Director Ron Hays recently the reason driving these figures is a growing global dynamic in the way the world consumes protein. He says the industry is watching a push around the world, particularly in Asia, for more a beefy diet.
"It looks like this year we're going to finish exports over 10 percent as far as our export performance," Seng reported. "That's a significant growth compared to where we've been."
Part of that he says, are the many inroads that have been made with developing markets such as Korea, where exports into that country have grown to 38 percent, replacing Australia with the US as the Asian nation's top beef supplier. In Japan, too, Seng reports that American beef exports are up dramatically. The same goes for Taiwan, Mexico and Canada. Strange to think since many of these markets were considered developed and mature.
"Just because a market is developed doesn't mean it doesn't continue developing," retorts Seng. "We're seeing all kinds of dynamics in Japan and I think that the changing nature of food consumption, especially meat consumption is allowing for more of it to come in."
However, Seng warns against a spreading sentiment of protectionism throughout the world. He says protectionism is the enemy of the producer and that if success in the markets is to continue, the world must embrace free trade agreements.
Listen to Seng talk more about beef export performance last year and what opportunities and challenges we're faced with this year to keep up the momentum, on today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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