The Brazilian Government expects its beef exports to China this year to surge 20-fold compared to three years earlier, China Daily, a state-run Chinese newspaper, reported this week.

The outlet quoted Brazilian Agriculture Minister, Kátia Abreu, saying that Brazilian beef had “large potential” in the Chinese market, following the lifting of an embargo by that country regarding Brazilian beef products.

According to the forecast of the Ministry, the sales of Brazilian beef to China will amount to at least US$700 million in 2015, representing a surge from US$37 million in 2012.

China had suspended Brazilian beef imports with effect from December 2012 when a case of bovine spongiform encephalopathy or BSE – also known as “mad cow disease” – was reportedly found in the South American nation. The ban was only lifted when Chinese Premier, Li Keqiang, announced in May – during a visit to Brazil – that China would resume buying Brazilian beef.

Ms Abreu said about 2,000 tonnes of fresh beef had been scheduled for export to China, following Mr Li’s announcement. Eight Brazilian beef producers have so far been given Chinese Government approval to export to China, she added.