Source: Canadian Cattlemen’s Association
Canadian beef producers are encouraged with the latest interest in trade expansion through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Since CPTPP came into effect on December 30, 2018, Canadian beef exports have increased 37 per cent in volume and 35 per cent in value (2020 vs. 2018). From January to August 2021, exports continue to rise to CPTPP countries and are up 60 per cent in volume and 66 per cent in value.
There is growing interest from various markets to join the CPTPP, with official applications by the United Kingdom, Taiwan and China, and further interest by South Korea. The Canadian Cattlemen’s Association has been a consistent advocate for the further expansion of the CPTPP subject to review of specific country barriers and potential for beef trade.
“We expect the Asian region to hold the largest potential for growth in beef demand over the next 25 years and securing further access to key Asian markets is a priority for us,” said Bob Lowe, President of the Canadian Cattlemen’s Association. “We are encouraged to see other countries’ interest in joining CPTPP, as long as they meet the ambitious nature of the trade agreement, which should open and expand exports for Canadian beef farmers and ranchers.”
Canadian beef producers export approximately fifty per cent of beef produced in Canada and this trade adds a value of $775 CDN per animal in comparison to if producers were only able to sell into the Canadian market.
