June 10, 2009
Australian beef exports fall 12 percent in May
Australia's beef and veal exports declined 12 percent on-year to 82,856 tonnes swt during May, as demand from key markets continue to be affected by recessions and the strengthening Australian dollar.
The Australian dollar appreciated nine percent in May, and has been up 25 percent against the US dollar and 35 percent against the Japanese yen since the start of February.
Australia's beef exports to Japan during May dropped two percent to 33,998 tonnes swt, with steady demand for chilled beef partially offset by lower frozen beef purchases.
Consumer demand at the retail and fast food level remains positive while demand in other food service segments remains weak, as the recession continues.
Shipments to the US jumped 38 percent on-year in May, but had dropped 20 percent to the May average for the past five years, totalling 23,780 tonnes swt.
Markets that record significant growth year-on-year for the first five months of 2009 include China and Hong Kong, which were up 121 percent and 131 percent respectively.
