Australian Meat Exports To China Have Tripled But Farmers Still Struggle To Make A Profit

Getty/ Christopher Furlong

Australian beef exports to China have tripled, growing from $380 million to $1 billion in just one year. But Australian farmers are still struggling to make a profit.

Demand is increasing, but prices are lower than they were 10 years ago. Farmers still pay a 12-13% tariff on exported cattle, according to Smart Company.

Concerned industry leaders are calling on the government to assist farmers by cutting government-imposed costs to reduce financial pressures.

The Meat and Livestock Australia general manager for trade and economic services, Peter Barnard, said, “Over the last few years prices such as transporting cattle have all risen and it’s eroding the profits that can be passed back to the farmer.”

Read more here.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.