Australia will export one million cattle worth US$856mn to China each year in a deal that will double the size of the live export industry
Barnaby Joyce, agriculture minister of Australia, said that the deal would likely increase the price of cattle and boost income of local farmers.
Christopher Pyne, cabinet minister at Australian government, said, “Its a million cattle worth US$856mn. It’s a great breakthrough deal.”
Australia is the world’s leading supplier of live cattle, sheep and goats, particularly throughout Southeast Asia and the Middle East.
“The live export industry is a vital component of the Australian agricultural sector and currently contributes around US$1bn in export earnings annually to the economy,” added Pyne.
China bought Australian dairy and beef breeder cows, and took more than 78,000 head of dairy cattle and 15,000 beef cattle in 2013.
Australian officials close to the deal said that it is yet unclear what kind of cattle China will be looking for — whether its feeder, slaughter-weight or dairy cattle.
