May 23, 2011

Australian beef market share to Japan decreases

The US has gained about 5% of Australia's beef market share for shipments to Japan.

Japan is Australia's most valuable beef export market and is worth around AUD4.1 billion (US$4.34 million) each year to the Australian economy.

Meat and Livestock Australia's chief economist Tim McRae said it is a result of the US weak dollar and an aggressing marketing campaign.

"From what MLA's forecasts were for the start of the year of about 350,000 tonnes to Japan for this year, we are probably looking at it being 330,000-340,000 tonnes at the moment," McRae said.

"We have revised down our figure and at the same point the US are revising up their export figures to Japan, but they are doing it to every market."