July 30, 2009
Malaysia wholesale beef prices mixed in July
Wholesale beef prices in Malaysia this month were steady to lower compared with July 2008.
The falling prices were partly due to the depreciation of the Australian dollar against the Malaysian ringgit compared to a year ago, and the increased availability of loin cuts from Australia following weak demand for the items in other markets.
Chilled Australian tenderloin and cube roll prices decreased 11 percent and 10 percent year-on-year, respectively, to MYR68.8 per kg and MYR47.8 per kg. Meanwhile, prices of non-loin cuts remained firm, averaging at MYR18.1 per kg.
Similar trends were also seen in frozen Australian and New Zealand beef prices in July.
Prices of frozen Indian tenderloin and cube roll in July fell eight percent and two percent year-on-year, respectively, to MYR15.2 per kg and MYR9.5 per kg, while values of non-loin cuts increased between two percent and eight percent.
US$1 = MYR3.54 (Jul 30)
