PSK Private Wealth’s Post

🌍 Great News for Australian Trade and Jobs! 🇦🇺💼 China has officially lifted the last of its trade restrictions on Australian meat processors! This marks the full resumption of red meat exports to one of their largest markets. 🥩✈️ 🔑 What this means: All 10 Australian abattoirs that faced restrictions between 2020 and 2022 are now back in business with China. This move follows the easing of other trade bans, including coal, barley, and wine, with lobster exports expected to restart by year-end. 💬 Prime Minister Anthony Albanese summed it up: "It's a win for trade and a win for Australian jobs." 📊 Why it matters: China is Australia’s second-largest market for beef, buying around 200,000 metric tons annually—worth a whopping $1.5 billion. This decision will further boost their already growing beef exports, which have surged this year thanks to increased demand in the U.S. and Japan. #Australia #Trade #China #Agriculture #MeatExports #EconomicGrowth #MeatNews #Meat #MeatBorsa [Source: https://lnkd.in/dbHwJHsi ]

The stats that show Brexit has failed our farms Brexit is the gift that keeps on taking from British farmers and from the huge food processing industry in the UK, the largest manufacturing sector in the country. New research from the Centre for Inclusive Trade Policy shows how damaging leaving the regulatory umbrella of the EU has been for British food. After the end of the Brexit transition period in January 2021, “agri-food imports from the EU fell by a 3-year average of 8.71% or £4.34bn per year, with exports to the EU decreasing by 16.34% or £2.82bn per year”. Although those dates coincided with the war in Ukraine and Covid there is, as the report says, no signs of trade flows regaining previous levels. Read the full article by Jonty Bloom here: https://lnkd.in/e2-R6cZc

𝐍𝐨𝐭 𝐬𝐨 𝐬𝐰𝐞𝐞𝐭 🇨🇳 🍬 🇨🇺 China cuts trade ties with Cuba amidst economic reform demands. Cuba is facing a major economic blow after China announced it would halt trade with the island unless significant reforms to its economic model are implemented. This decision includes the cancellation of a critical contract for the annual purchase of 400,000 tonnes of sugar, a vital export for Cuba. The breakdown in relations stems from Cuba's failure to deliver on promised economic reforms, which has resulted in a sharp decline in trade between the two nations, with Chinese exports to Cuba falling from USD 1.7 billion in 2017 to USD 1.1 billion in 2022. This development has deepened Cuba's economic crisis, with widespread blackouts leaving only a third of the country powered, further straining an already fragile infrastructure. Moreover, many Chinese businesses are now abandoning credit lines with Cuba, opting instead to explore opportunities in the Cuban private sector. China's actions signal its reluctance to support Cuba's faltering economy without meaningful changes to sweeten the deal. 👉 It's no picnic for Cuba: https://lnkd.in/eSw2bM9X #deheza #tidings #latam #intel #china #cuba #economy #contracts #sugarexport #badrelations

British agrifood exports to the European Union have dropped by nearly £3bn a year since #Brexit 🇪🇺 According to Centre for Inclusive Trade Policy (CITP), regulatory divergence and high trade costs were behind a fall of more than 16% in #exports of agricultural and food goods to the #EU

Recent attacks on ships in the Red Sea by Yemen’s Houthis have upended trade in Asia. Goods are now being transported via lengthier shipping routes or costlier air options. Download our free report at the link below to learn more about how these developments have affected trade in the region. Our main findings include: -The disruptions will affect exports more than imports -In 2024 there will be an increase in inventory due to a surge in transportation costs -EIU’s revision to economic growth and inflation as a result of the trade disruption

#newzealand #eu #fta #entryintoforce #geographicalindications ✨️ The EU-NZ FTA enters into force today (1 May 2024) EU farmers will benefit from the elimination of tariffs on key EU exports such as pig meat, wine and sparkling wine, chocolate, sugar confectionary and biscuits. The agreement protects the full list of EU wines and spirits GIs, as well as 163 of the most renowned foodstuff GIs, such as Feta cheese, Istarski pršut ham and Lübecker Marzipan. Meanwhile, sensitive EU agricultural products such as beef, sheepmeat and dairy products are protected with carefully designed tariff rate quotas.

China has lifted its ban on two Australian meat processing companies, paving the way for a full resumption of red meat exports to China. Between 2020 and 2022 some 10 Australian meat companies were subject to sanctions following growing #trade friction between the two countries. China is the second largest market for Australian beef and veal after the United States. The removal of the final two suspensions is expected to normalize trade, with beef and veal export revenues projected to exceed $2.2 billion for 2023–2024 Diplomatic disputes, a shift in Australian domestic attitudes toward China, and the Covid pandemic contributed to a drop in the trade of key Australian exports such as coal, wine, barley and lobsters. Australia has since resolved nearly all trade barriers with China, which have cost it approximately A$20 billion ($12.96 billion) in lost exports In March, China ended anti-dumping and countervailing duties on Australian wine, imposed since 2021. Australian wine exports to China have since surged to A$86 million, surpassing the total for the previous three years combined In October, the Australian government announced an agreement with China to fully resume live rock lobster exports by the year’s end, potentially generating A$700 million in trade and preserving 3,000 jobs

After 20+ years of negotiating the EU and South America's Mercosur agreed to the terms of a free trade agreement today. This is the biggest deal signed by the two blocs, covering more than 780 million people. There is still opposition to the deal in the EU. That group includes vocal farmers in both France and Poland who fear low-cost imports from South American producers. The latest study from Brazil’s Institute of Applied Economic Research showed agriculture-related exports to the European bloc could grow by an additional $7.1 billion between 2024 and 2040. Products such as pork, poultry, vegetable oils and fats could be the main winners, while in coffee the country hopes to expand from selling mostly green beans to shipping value-added products like instant coffee.

Australia welcomes China lifting the remaining suspensions on two Australian meat processing establishments, paving the way for full resumption of red meat exports to China. Read the joint press release here: https://lnkd.in/gXfX_rJN

EU Expands Food Exports to China Amid Trade Tensions Read The News: https://lnkd.in/gz4yNgzq #ITCNewsUpdates #BreakingNews #EUChinaTrade #AgriFoodExports #TradeRelations #GlobalEconomy #MarketInsights