News

EU trade deal and the US beef market: Implications for Australia's beef industry

Frozen Bone-In Beef
Meat
Australia
Regulation & Compliances
United States
Market & Price Trends
Published Nov 16, 2023

Tridge summary

Australia's access to the EU Customs Union for beef and sheepmeat is currently at its lowest since 2012, with access decreasing each year until at least 2026. The UK has taken a significant portion of the EU's beef and sheepmeat quota following Brexit, leaving less for the EU. The US remains Australia's largest beef export market, with tariff and quota-free access being fundamental to maintaining flexibility in the market.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

With the media coverage recently of the breakdown in the negotiation of a free trade agreement with the European Union, there has been some confusion when reporting on Australia's "status quo" EU beef and sheepmeat access, even from some of the industry websites. The reality is that Australia's access to the EU Customs Union for beef and sheepmeat is the lowest it has been since 2012. The status quo is that we are losing access each year and that will continue, until at least 2026. Australia has three main points of quota access. Since Brexit the EU high quality beef quota of 7150t has been split with the UK. Only 3389t has been retained for the EU - less than half. Similarly with the EU sheepmeat quota, the UK took 13,335 of the 19,186t quota leaving only 5851t, or 30 per cent, for the EU. In 2012 Australia had access to all of the 45,000t EU grainfed beef quota, competing with five other countries including the US. The US has subsequently negotiated to quarantine an increasing ...
Source: Farmweekly
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