The impact of Covid-19 on each country’s red meat market will be shaped by many factors. This includes underlying ones, such as the degree of dependence on imports and the prominence of red meat in consumer diets, and more immediate ones, such as how virus-spread control measures are implemented and ability of the healthcare system to deal with serious cases.
Covid-19’s impact in China was compounded by the crisis coinciding with Lunar New Year, typically the peak season for red meat purchases and consumption and when many businesses shut down for 1-2 weeks holiday. Hence, labour shortages across the supply chain due to quarantining, illness and travel bans were compounded by the national holiday.
While the epicentre of Wuhan responded with the deepest and longest shutdown, our insights below refer mostly to the rest of the country, particularly coastal Tier 1 and 2 cities where the vast majority of Australian red meat arrives, is stored, distributed, further processed and consumed.
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