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The industry faced challenging conditions early in the five-year period through 2014-15, due to poor agricultural conditions and the lingering effects of the global economic downturn. Since 2011-12, however, the industry has been recovering as weather conditions have improved, reducing input costs such as animal feed. Production volumes for beef have risen over the past five years to meet increased global demand, as have export levels. Over 2014-15, industry revenue is forecast to grow by 0.5% to $14.2 billion, assisted by the continual rise of export demand in line with a depreciating Australian dollar. Total revenue for meat processors is expected to grow at an annualised 2.2% over the five years through 2014-15.Australia's meat processors export close to 70.0%.The Meat Processing industry has been under pressure. At the beginning of the five years through 2014-15, drought conditions and the global financial crisis led to significant revenue volatility. A mature domestic market has constrained consumption increases, with the exception of premium and organic products. A weak global economy caused exports to drop, particularly in 2009-10, when production volumes declined as farmers rebuilt herds following the drought. However, conditions are improving, and industry revenue is estimated to grow at an annualised 2.2% over the five years through 2014-15. Lamb prices have increased significantly, while production volumes have stayed mostly stable.Leading CompaniesJBS AustraliaTeys Australia Joint VentureIndustry Statistics & Market SizeRevenue$14bnAnnual Growth 10-152.2%Employment31,986Businesses581For more information on the "Meat Processing in Australia - Industry Market Research Report" market analysis, see the latest research: Meat Processing in Australia - Industry Market Research ReportFollow us on Twitter @CandMResearch
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Copyright Newstex Dec 10, 2014
