March 23, 2009
Japan's beef imports up 38 percent on-year in Jan
Japan imported 36,603 tonnes of beef in January, up 38 percent on-year, according to trade statistics.
Sales of imported beef are strong because they are cheaper, according to an official from supermarket chain operator Summit Inc. The official said while overall beef sales rose 5 percent on-year in January, imports increased 26 percent.
Imported beef was sold at an average of JPY376 per 100 grammes at retailers across Japan in the second week of March, 45-percent lower than domestic beef's JPY698, the Agriculture Ministry said.
The strength of the Japanese yen against the US dollar is believed to be a contributing factor, and the popularity of imported beef has continued in February and March.
The wholesale price for US beef cuts is used as a benchmark has dropped 13 percent on-year to JPY2,000 per kg, while the price of Australian beef has tumbled 28 percent to about JPY600.
US$1 = JPY96.2930 (Mar 23)
