February 13, 2007

Taiwan imports record beef in 2006
 

Taiwan imported a record number of US beef in 2006 as consumers enthusiastically responded to the reopening of the market to US beef, says a US Department of Agriculture report.

US beef imports not only set a new record in volume, but also replaced New Zealand as Taiwan's no. 2 beef supplier in terms of import value. 

The country's total beef imports reached a historic high of 74,337 tonnes. Imports of US beef are estimated at 15,000 tonnes this year, according to the USDA report.

Beef supply during calendar year 2006 increased 11 percent to 108,000, CWE. While beef consumption increased in 2006 is expected to continue to do so this year, supply could fall to 102,000 tonnes, as importers need to deplete US beef stockpiled since last summer when Taiwan importers expected the South Korean market to compete for beef.  

Meanwhile, the local pig industry is under stress due to high corn prices and low product prices as producers reduce the age at which they slaughter animals, says the agency report. 

About 80 percent of swine producers are reportedly losing money in the current environment, and that is without including land costs, depreciation, and the labour of the owners. While most producers are expected to survive, smaller producers are already suffering from high mortality partly due to under investment in new facilities. 

Taiwan lost its overseas markets 10 years ago due to foot-and-mouth disease.

While pork imports are not particularly large, the US exported approximately US$1 billion of corn and soybeans to Taiwan in 2006, and the difficulties facing the pork and poultry industries place that trade at some risk.  

For the full USDA report, please click here