March 25, 2009

Canada's beef and veal exports are projected to reach 429,400 tonnes this year, with increased sales to its key markets, according to the Canadian Beef Export Federation (CBEF).

Value of the exports are estimated to reach C$1.507 billion (US$1.2 billion), while the volume is up from 392,861 tonnes in 2008, the CBEF said.

Exports to the US this year are forecast to total 311,000 tonnes, up from 294,843 in 2008. Mexico, the second largest Canadian beef and veal market, is projected to import 54,000 tonnes, up from 46,949 tonnes last year, while the third-largest market Hong Kong is seen to increase imports from 17,675 tonnes in 2008 to 19,900 tonnes.

Other major markets this year will include Japan, which is projected to import 7,400 tonnes, up from 5,391 tonnes last year; Taiwan to import 2,400 tonnes, down from 2,882 tonnes in 2008; and Russia to import 10,000 tonnes this year, nearly double from last year's 5,051 tonnes.

Canada's beef industry is now looking to reopen the markets of South Korea and China, which had been shut to Canadian beef and veal following a mad cow disease case in 2003.

Looking ahead to 2010, the CBEF estimated total beef and veal exports to reach 456,000 tonnes at a value of C$1.613 billion (US$1.3 billion).