Rabobank Beef Quarterly
Rabobank Beef Quarterly Q1 2018: Impact of Trade Agreements and Blockchain Technology
A number of trade agreements, such as the Trans-Pacific Partnership (TPP) and a proposed Mercosur/EU trade agreement, look set to start having an impact on global beef trade in 2018. At the same time, applications of blockchain technology are now being widely developed in the food industry, with opportunities to realise benefits further up the supply chain growing, according to the RaboResearch Beef Quarterly Q1 2018.
Progressive Agreement for Trans-Pacific Partnership
The 11-member version of the Trans-Pacific Partnership (TPP) looks set for formal signing in March (although respective governments need to sign off on the details before implementation). Gains are expected for beef-exporting countries Australia, New Zealand, Mexico, and Canada—through reduced tariffs into key global beef importer Japan, plus reduced tariffs into smaller importing countries Chile, Vietnam, and Peru.
Food and tech companies are developing blockchain as a solution in response to changing consumer preferences, and the beef sector is no exception. “While many of the early applications have been driven by the desire to increase traceability and transparency, with a focus on food safety, opportunities do exist further up the supply chain,” according to Blake Holgate, Analyst – Animal Protein.