China: An Incredible Opportunity

Lizzy Schultz

one-alltech-16-275The industry of agriculture has an international consumer base, and so many agribusiness professionals are looking into the international opportunities available within their sector and their business. Ian Lahiffe, New Business Development Director for Alltech China hosted several special sessions during ONE: The Alltech Ideas Conference, to discuss the opportunities that exist within the country of China, especially for the beef industry.

China’s consumption of beef is increasing at an incredible rate compared to the stagnant rate of beef consumption currently seen in America and Europe, yet 0.5 percent of the beef consumed in China is produced domestically. The U.S. does not currently have access to export beef to China, but Lahiffe believes that the international respect U.S. branded beef currently holds would make the products incredibly marketable in China should access to the country eventually be granted.

“Within ten years, per capita beef consumption could double, which means that they would need an extra seven million tons of beef per year,” said Lahiffe in an interview during the ONE conference. “What other market is there with that kind of latent consumption? It could become our largest market if we are able to gain access to export our products there.”

In the meantime, Alltech is doing a significant amount of work with the Chinese beef industry, with hopes to help improve and increase their domestic production and build a healthy, sustainable beef sector within the country.

“China’s beef sector isn’t on a large scale yet, they’re struggling with financing and the areas of animal nutrition and health, so we have a strong presence over there right now, we’re offering them a lot of support.” said Lahiffe. “We’re building a beef farming institute to train the future beef farmers of the industry, and we also recently brought a group of 20 Chinese beef farmers to Amarillo, Texas, to see the beef sector there.”

Listen to Lizzy’s full interview with Ian here:
Interview with Ian Lahiffe, Alltech China

View and download photos from the event here: 2016 ONE: The Alltech Ideas Conference Photo Album

Agribusiness, Alltech, Audio, Beef, International