13 January 1999
Australian beef for Argentina
A UNIQUE set of circumstances has given Australia the opportunity to export beef to one of its main competitors on the world beef export market – Argentina.
Argentinas beef production has been hit by drought in South America and reduced cattle numbers.
Combined with a fall in the Australian dollar and a downturn in Australias main Asian market, this has made the South American market an attractive opportunity.
Australia and Argentina have now struck a trade agreement.
Australia exports about A$3 billion-worth (£1.16bn) of beef annually, with most of it shipped to Japan, the USA and other Asian markets.
Argentina has also traditionally been a large beef and producer and exporter.
- Financial Times 13/01/99 page 4