China’s new beef tariffs expected to favour New Zealand exporters
Additional tariffs introduced by the Chinese Government last month on beef imports should favour New Zealand farmers and exporters.
Certainly, it's lower demand from China that's holding back a recovery to full health in meat industry returns, whoch had been decidedly sick until recently.
MIA data shows positive growth overall in June, driven by the US, up 14% to $303m, Japan up 53% to $61m, the UK up 66% to $61m and Canada, up 94% to $51m.
China, still the second largest market after the US, was down 38% to $176m - dragging the June average back to a 2% increase overall.
Same deal with second quarter red meat exports, down 1% to $2.9b despite all major markets boosting volumes, except China, which was down a whopping 40%.
