Australia: It's time to capitalise on FTAs to unlock new red meat markets

Published 2024년 12월 24일

Tridge summary

In 2025, Australia is poised to benefit from tightening global beef and sheepmeat supplies due to declining herds in key producing countries like the US and New Zealand. Leveraging Free Trade Agreements (FTAs) signed since 2020, including with Indonesia and Papua New Guinea, Australia has seen substantial growth in red meat exports. The Indonesia-Australia Comprehensive Economic Partnership Agreement has been particularly successful, doubling beef exports and tripling sheepmeat exports. The UAE FTA, set to begin in 2025, and ongoing EU negotiations promise further market expansion. New Zealand's declining competitiveness in sheepmeat markets due to a shrinking flock and export volumes creates an opportunity for Australia to increase its dominance in these markets.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As global beef supplies tighten in 2025, driven by herd reductions in key producing nations such as the United States, Australia is uniquely positioned to capitalise as their primary competitor into key beef export markets like Japan and South Korea. Coupled with New Zealand's waning competitiveness in sheepmeat exports due to a declining flock and falling export volumes, Australia's position as the leading global supplier of sheepmeat is advantageous. Free Trade Agreements signed since 2020 have unlocked greater access to developing markets and Australia has already begun to see significant growth in red meat exports to nations like Indonesia, PNG, India, and the UK, with further opportunities emerging in the UAE and ongoing negotiations with the EU. The Indonesia-Australia Comprehensive Economic Partnership Agreement, formalised in July 2020, has been a standout trade development for Australian red meat exports. Since its inception, Australia's beef exports to Indonesia have ...

Source: Farmweekly