Australian beef exports up in June

Australian beef and veal exports for June increased 6% on-year, with higher shipments to the US, Korea, Indonesia, Taiwan and Russia helping to offset a decline to Japan.

Exports for the month totalled 87,212 tonnes swt - the highest monthly total since March last year, as increased production throughout May and early June facilitated a rise in shipments.

Reflecting relatively strong Korean consumer beef demand, combined with reduced domestic production, Australian beef exports to Korea were a record for June, at 12,109 tonnes swt. Korea has exceeded expectations during the first half of 2010, with shipments up 17% on-year, even though competition from the US has increased.

Weak market conditions in Japan had Australian beef and veal exports for June back 14% on-year, to 27,691 tonnes swt. Japanese beef demand is seasonally sluggish throughout June, while beef inventories are reportedly adequate.

Shipments to the US jumped 12% on-year, to 24,434 tonnes swt, partly assisted by the lower Australian dollar. So far in 2010, exports to the US have contracted 28% on-year, to 105,762 tonnes swt.

Exports to Taiwan reached their highest level since December 1998, at 4,058 tonnes swt during June, while shipments to Indonesia totalled 4,316 tonne swt - up 12% on the same period last year. Russia also continued to take steady volumes of Australian beef, with 3,518 tonnes swt shipped in June - taking exports for the first six months of 2010 to over 15,000 tonnes swt, up 149% on 2009.