Growing demand for U.S. beef in foreign marketsGrowing demand for U.S. beef in foreign markets
Increasing foreign market demand for U.S. beef is important work supported by your beef checkoff. It’s simple economics. More demand helps increases the value of each animal.
January 13, 2017
You know that the beef produced in the U.S. is delicious, nutritious and safe to eat. But did you know that consumers in more than 80 countries also know that, thanks in part to your beef-checkoff investments?
Foreign marketing of U.S. beef makes sense when you know that 95 percent of the global population – and 80 percent of the global buying power – is outside of U.S. borders. With the global population projected to nearly double by 2050, it’s easy to see that exports of U.S. beef represent a growth opportunity for U.S. beef producers.
The checkoff is helping to increase exports of U.S. beef to consumers across the globe from Japan to the Middle East, Mexico to Russia, Europe and more.
The Beef Checkoff’s Role
In the current fiscal year, the volunteer producer leaders of the checkoff program have made global marketing a priority. The historic rapid rebuilding of the domestic herd during the past year has resulted in a dramatic increase in U.S. beef production. Add to that similar increases in U.S. pork and poultry production and you get stiff competition for consumers’ taste buds.
But the global marketplace offers tremendous options for selling that expanded beef supply at strong prices. One of the key markets is Japan, which imported more than 425 million pounds of U.S. beef, valued at $1.12 billion, during the first 10 months of 2016 alone! That represented a 20 percent increase in the volume and an 11 percent increase in value when compared to the U.S. beef Japan purchased during the same period in 2015.
All told, the U.S. exported 2.1 billion pounds of U.S. beef, valued at $5.1 billion during the first 10 months of 2016. What’s more, those sales – and the checkoff-funded programs that support them – add more than $250 in value to each head.
In the more than 80 countries where your checkoff helps promote U.S. beef, the effort is to make sure that consumers worldwide understand your product, trust your industry and know how U.S. beef can benefit them. There’s lots of competition in the beef market for international business, and your checkoff helps make sure that we’re in the running for it.
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