Australia has lifted a 22-year-old ban on the import of Canadian beef and beef products, the Canadian Food Inspection Agency said on Tuesday, a move that brings relief to farmers but is unlikely to spur major new sales.

Australia imposed import restrictions on Canadian beef in 2003, following the discovery of Canada’s first domestic case of mad cow disease. It lifted a similar ban on U.S. beef imports last week.

Canada’s government celebrated the long-awaited resumption of access to the Australian market.

“With restored access to Australia, a key market in the Indo-Pacific, we can unlock more opportunities for our producers to deliver the top-quality beef we’re known for,” said federal Agriculture Minister Heath MacDonald.

Analysts are skeptical about how much North American beef can be exported to Australia because the U.S. has a major deficit and is importing beef from Australia, Canada and other suppliers.

“U.S. beef is still very highly priced compared to Australian beef,” said Resilient Capital analyst Jerry Klassen.

“North American beef is really the highest-priced in the world.”

The Canadian Cattle Association, which represents farmers and feedlots that raise cattle, celebrated the Australian market reopening, saying in a news release it was one of the last remaining countries to have maintained mad cow disease restrictions on Canadian beef.

Canada’s cattle ranchers were devastated by the 2003 restrictions placed upon Canadian beef exports because much of the country’s beef production is exported, especially to the U.S.

Source - https://www.canadiancattlemen.ca