Australia beef exports up 11 percent on-year in March

Exports to the US and Southeast Asia, mainly Indonesia and Taiwan, increased sharply while volumes to Japan and South Korea decreased from last year.

Australian beef exports to the US grew 66 percent on-year to 31,821 tonnes swt, supported by the lower Australian dollar and strong manufacturing beef demand.

While inventory cutbacks have been taking place in the US, end-user demand (particularly fast food chains) remains strong and is supporting demand for Australian manufacturing beef.

Shipments to Japan dropped 10 percent to 30,728 tonnes swt in March, though chilled exports showed a 13-percent increase. Weekly beef export prices for chilled shortfed product have also increased, indicating demand from Japanese importers is starting to grow for Australian grainfed chilled beef.

Beef exports to South Korea declined 17 percent on-year in March to 10,198 tonnes swt, though Australian wholesale prices in South Korea remained above year-ago levels, except for short rib.

Shipments to Indonesia and Taiwan rose 48 percent and 45 percent on-year, respectively, to 4,074 tonnes swt and 2,930 tonnes swt. Volumes to Russia has improved but remained low, at around 1,000 tonnes, down 60 percent from March 2008.