March 1, 2004

Australia Beef Export Values Down For 2003

The value of Australia's beef exports saw a 13% decline in 2003 to A$3.6 billion, according to the Australian Bureau of Statistics (ABS), with export values to the US, Korea and Canada all falling significantly.

Australian beef export values to the US eased 15% on last year, to A$1.35 billion, as reduced demand and export prices in the first half of the year and the steady appreciation of the A$ reduced export earnings.

With beef exports to Japan rising 18% during 2003, the value of these exports rose 12%, to A$1.38 million, narrowly surpassing the US to become Australia's most lucrative beef export market in 2003.  Beef export values to Korea for 2003 fell 20% on the previous year, to A$271 million, while export values to Taiwan dropped 16%, to A$129 million.

The significant reduction in Canadian beef import demand following the positive BSE test in May saw Australian export earnings for 2003 to Canada total A$115 million, a 74% reduction on 2002 (A$318 million).

Of the A$3.6 billion in beef export earnings for 2003, frozen beef exports made up 58% of total value (A$2.1 billion). Chilled exports accounted for the remaining 42% (A$1.5 billion).