2.  As a director of Paraway Pastoral Company,
Ltd., in Sydney, Australia, Tim Hornibrook
applied the financial expertise gained from a
decade of agricultural investing. One of Tim
Hornibrook's interests is the world's beef export
market.
Four countries together make up some 70% of
this market: the United States, Australia, Brazil,
and India. Over time this list has changed;
Argentina was formerly a leading producer
and India has emerged to now control 20% of
the market - a share that has doubled in the
past five years.

3.  Benefiting India is the unique nature of its exports. It
sells at a discount to other countries because it is tied
to the buffalo dairy sector. For religious reasons, the
domestic market is unusually small, so a high
percentage of beef is available for export. India's
government subsidizes a generous portion of
production, further reducing the export price.
India's main trading partners for this commodity
include countries in Southeast Asia, North Africa, and
the Middle East. Other regions practice limited import
of Indian beef because of concerns about hoof-and-
mouth disease. Overcoming these restrictions is a
significant challenge for India.