An increase in beef production expected in 2018
The application of blockchain technology and trade deals will be very important this year; not just important, but key for this growth.
The CPTPP (Comprehensive and Progressive Trans-Pacific Partnership) is a free trade agreement involving 11 countries and it is to be signed over the next few months. Beef producing countries such as Australia, New Zealand, Mexico and Canada, among these countries are expected to see gains.
Blockchain, the other factor taking part in this growth will make possible the access to all data connected in the same blockchain network, allowing any participant to obtain any kind of information, which is all transferred in real time. It makes the industry more transparent at an all-new level. It also improves the whole chain making it more responsive to any food safety disasters.
Other factors to take into account would be the rising cattle numbers, favourable market conditions and weather conditions meaning an increase for 2018.
Trade deals pivotal for 2018 beef production (Global Meat)