May 15, 2008

Australian beef declines 23 percent in Taiwan markets

Several Australian beef cuts are facing tough competition from US products, with chilled grassfed intercostals falling by 23 percent on-year to TWD200 per kilogramme.

Meanwhile, the prices of US chilled intercostals increased by 20 percent to TWD240 per kg from last year.

The average price of Australian chilled grassfed oyster blade in mid May was unchanged from April, at TWD230/kg, although it was 10 percent higher on-year.

Country officials have reportedly slowed down on ordering large volumes of Australian beef, in anticipation of future price changes.

Taiwan's wholesale market was generally stable over the past month, despite stocks reportedly low at the end of April.

The local market had minimal buyer activity as meat consumption is seasonally low in April.

US$1 = TWD30.99 as of May 15, 2008