April 27, 2009
Australian beef holds strong in Malaysia
Australia's beef held the largest share of shelf space in Malaysian's high-end retail stores in April, with Australian chilled beef accounting for 77 percent of total shelf space, up four percent on-year.
Malaysian chilled beef held 15 percent of shelf space, while New Zealand and Indian beef occupied one percent and eight percent, respectively.
But despite Australia's dominance in retail outlets, India's carabeef (water buffalo meat) continues to be the main product sold at traditional wet markets at prices significantly lower than Australian beef.
Retail prices of Australian chilled topside averaged MYR30.26 per kg in April, up eight percent on-year, while Indian frozen topside remained at MYR11.95 per kg.
Malaysian chilled topside prices grew 23 percent on-year, but down eight percent from March, to MYR29.99 per kg.
Recent falls in local beef prices were mainly due to excess supply, as domestic producers offloaded cattle in anticipation of weak demand because of the economic slowdown.
US$1 = MYR3.61097 (Apr 27)
