February 4, 2009
Australia beef exports up 14 percent on-year in January
Australia exported 50,028 boneless tonnes of beef in January, up 14 percent on-year, as rising shipments to Japan and the US offset lower volumes to South Korea.
January sales generally suffer as many meatpackers close in late December for holidays and annual maintenance, reopening on various dates in January.
This restricts domestic beef production and the volume of meat available for export.
In January, Australia exported 21,905 tonnes of beef to Japan, up 30 percent on-year, while exports to the US grew 40 percent to 15,715 tonnes.
The Japanese yen's recent appreciation allowed Japan to buy Australian beef at low prices, but Meat & Livestock Australia (MLA) is worried about the softening market, according to MLA market analyst Miho Kondo.
Exports to Indonesia more than doubled on-year to 3,127 tonnes, but shipments to South Korea were halved to 4,282 tonnes.
MLA recently forecast a 3.4-percent on-year growth for Australian beef exports in 2009 to 990,000 tonnes.
The expected growth reflects a projected decline in the value of the Australian dollar, whose depreciation is seen to more than offset the impact of slowing consumer demand caused by the recession and credit issues, MLA said.
