Beef prices in South East Asia are on the rise as pork supply is limited in the region due to the ASF outbreaks in China and several EU countries, reports Beef Central magazine.
The Indonesian market is looking more attractive to Australian exporters since the prices have broken through the AU$ 4 per kg barrier for the first time in the last 16 months.
China and Vietnam have also reported an increase in livestock imports, with prices raising at AU$ 5.61/kg and AU$ 4.17/kg, respectively.
Chinese market fluctuation in live cattle is more visible when comparing prices from Beijing and Shanghai area to other provinces of the country. Due to the lack of pork in the market, retailers have already started to promote frozen beef in order to increase its consumption. The Philippines and Thailand are not far behind the AU$ 4 per kg barrier, with prices ranging from AU$ 3.72 to AU$ 3.98, noted a market report. The Chinese market, as well as the Indonesian and Philippines, are expected to increase their livestock and beef imports in the following months as the demand for animal protein is growing.