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South Africa's beef industry says its optimistic for the future, following “favourable” trade discussions with China.
The Beefmaster Group made the comment at a South African State business forum event in Beijing on Wednesday.
Executive chairperson, Louw van Reenen, says although South Africa already exports beef to China, the deepening relationship could unlock an additional 50% more beef exports within the next year.
“This mission was crucial for us to assist in increasing beef export opportunities between the two markets, ensuring that all role players — especially our primary producers — benefit from enhanced trade agreements during these challenging economic times.
“Livestock farmers are struggling given present constrained economic conditions,” said van Reenen.
The company said that in 2023, South Africa’s bilateral trade reached $34 billion, with exports totalling $12 billion.
Quoting date from the Red Meat Producers Organisation, Van Reenen said that thanks to increased global market access, South Africa’s beef industry exported more meat than any corresponding period in the past eight years.
He said by June 2024, 23 295.3 tons of beef had left South African shores, compared with only 15 330.88 tons in the same period in 2023 and 16 109.64 tons the year before.
“The increase in beef exports was thanks to new trade agreements reached between the Middle East and South Africa recently,” he added.
Van Reenen said the beef industry was proud to play a vital role in global food security by supplying China with our world-class beef products.
“We thank the government for its laser focus on building and harnessing trade relationships with China,” he said, adding that Beefmaster Group views China, the world’s No2 market. as a strategic market and even a “slight uptick in demand would be extremely favourable for South Africa.”
