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Data Analysis

US Beef Exports Expected to Bounce Back in 2021

Fresh Whole Beef
Fresh Whole Beef
Beef
United States
Market Situation
Demand

Summary

2020 was not the best year for the US in exporting beef overseas. Its value even decreased from last year. However, China was recorded to be the only Asian country whose demand increased significantly during this period. It is interesting how US exports seem to be improving as South Korea has been able to import more beef from the country by over than 20% higher than the previous value. A significant demand also came from China with a total of 231,760 thousand pounds in the first half of 2021, up about 90% from the same period last year's. Although the US export value in June was lower than last May, the United States recorded to export more beef to major buyers by mid-2021. Strong demand from China is also driven by several factors, such as the reduced amount of meat that can be imported because the agreement has limited the volume of beef that can be shipped to foreign buyers; as happened in Australia and Argentina. The Phase-One agreement, which reduces trade war tariffs, allows the US to export beef massively to China and competing in the markets.
Aug 12, 2021
By Rimelda Rinaldi
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