July 27, 2004

Japan's Homegrown Beef Prices Rise

The price of domestic beef in Japan reached its highest level since March, the country's Agriculture Ministry said Monday.

The price for 100 grams of frozen homegrown beef reached 688 yen, or just over $6 for 3.5 ounces.

But the price of foreign beef continued to decline, down to 359 yen, or just over $3, for 100 grams.

Japan had stopped importing beef from the United States since a case of mad cow disease was found there last year. Since then, many consumers as well as restaurants have been avoiding foreign beef.

Japan and the United States are currently negotiating the possibility of Japan lifting its ban on U.S. beef.