2021 Australian Wagyu Conference: Demand fundamentals ‘incredibly positive’
James Nason, BEEF Central (AU)
MACRO drivers for Australian beef demand remain “incredibly positive”, Meat & Livestock Australia managing director Jason Strong told this morning’s session of the Australian Wagyu Association annual conference on the Gold Coast.
The conference is one of the first big cattle industry gatherings in eastern Australia in over a year following the commencement of COVID lockdowns across Australia in March 2020.
Indeed the impacts of COVID on the premium export markets targeted by Australia’s red meat sector, and in particular its Wagyu industry, were a central feature of discussions in this morning’s opening session.
Before COVID the luxury segment of the global food service sector was growing three times faster than the broader food service industry.
A large amount of that growth was led by US and China...