India is a major player in the global bovine market and production and trade have been growing rapidly in the last four years. In 2014, Indian bovine meat exports recorded their highest export earnings at USD 4.7 billion. In its latest quarterly report Beef Quarterly Q2, Rabobank takes a closer look at Indian export growth as well as regional outlooks from around the globe in the Beef Quarterly Q2 2015.
“India will continue to be a major supplier of low cost bovine meat to global markets, but the growth rate going forward could be much lower than what we have seen in the past five years. With high dependence on the Chinese demand however, India needs to find more markets to mitigate any possible volume slowdown risk from China,” says Rabobank analyst Angus Gidley-Baird.
Highlights from the Beef Quarterly Q2 2015:
- Brazil regained official access to China in May 2015. However in the short term, official access to China is not expected to see a large increase in Brazilian exports.
- Chinese retail beef prices continue to remain stable in the first half of 2015 despite a slower economy leading to price drops across other meats.
- Australian beef production and exports continue at record levels. Australian exports to the US of this volume have not been seen in the last 25 years.
- The US dollar continues to perform strongly against the currencies of major beef-trading nations, assisting those countries exporting to the US, such as Canada, Mexico, Australia and New Zealand.
Supplied by Rabobank.