Global Beef Trade Poised for Growth Despite Market Volatility

A new report by Rabobank has predicted that global beef trade will continue to grow over the next five years, driven by strong Asian demand and expanding South American exports.

The report shows exports have climbed by 14 per cent since 2019, reaching nearly 13 million metric tons in 2024. RaboResearch senior animal proteins analyst Angus Gidley-Baird says Brazil and China have reshaped the market landscape.

“Brazil and China have emerged as dominant forces, with Brazil leading exports and China becoming the top importer,” Mr Gidley-Baird said. He noted that Brazilian beef exports rose from 2.3 million metric tons in 2019 to an estimated 3.6 million in 2024 — largely fuelled by China’s growing market demand.

The report highlights that volatility remains a major challenge, citing disease outbreaks, tariffs, and shifting economic conditions.

“The geopolitical environment remains a key factor in ongoing market fluctuations,” Mr Gidley-Baird said. “Companies that can navigate this volatility and capitalise on favourable conditions will be well-positioned for success.”

Looking ahead, Rabobank expects continued growth in Asian consumption, particularly in Vietnam, China, Malaysia and the Philippines, with South America set to meet much of this demand.

“Established exporters like the US, Australia and New Zealand are expected to see more value-driven growth, leveraging quality attributes and established supply chains,” Mr Gidley-Baird said.