U.S. beef exports soared to record levels in 2018 thanks to exports to Asia, but it wasn't sales to China that drove the growth.
div > div.group > p:first-child"> "We just regained access to China in the middle of 2017, so about a year later we got slapped with a higher tariff rate," said Joe Schuele, a spokesman for the U.S. Meat Export Federation, a trade group."China is still the fastest-growing beef market in the world, and we feel there's a lot of potential there, but a lot of obstacles keep it from being a major market for us at this time.
According to the USMEF, exports last year soared to $8.33 billion, shattering the previous year's record by more than $1 billion and representing a 15 percent increase in dollar terms. South Korea accounted for more than half of the total increase, as red-meat consumption continues to rise there. On a volume basis, 2018 U.S. beef exports were up 7 percent to 1.35 million metric tons, which is above the previous record tallied in 2011.
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