11 January 2017 11 January 2017 | Australia
Australian beef: a fight for the prime cuts
Asian consumers have a huge appetite for it. Private equity funds find it irresistible. And billionaire philanthropist Bill Gates is investigating how it can help feed the world’s poor. Australian beef has never been so popular or in such demand.“It is a very hot sector right now because people see the huge opportunity in Asia, where an emerging middle class is only starting to eat beef,” says Clint Ashbacher, a rancher who swapped the Australian rodeo circuit to manage Wylarah cattle station, a 33,300-hectare property in south Queensland.The 33-year-old Canadian is one of a growing number of foreigners lured into this traditional business, which is enjoying an investment boom. More than A$2bn ($1.48bn) has been channelled into the industry in the past two years in a modern-day “gold rush” for a sector that had struggled for two decades.
Full Story: Financial Times