August 2, 2010

Australia sees steady retail beef prices in 2009-10

Beef prices in Australia during 2009-10 were almost unchanged compared with 2008-09, averaging AUD16.08 (US$2.37)/kg, an increase of 0.2% on 2008-09, according to the Australian Bureau of Statistics.

While prices increased during the second half of 2009, they have eased back in 2010, as additional beef entered the market, assisted by sluggish export demand and high Australian dollar.

For the past fiscal year, pork prices increased 2% on-year to AUD13.49 (US$1.99)/kg, while chicken prices were unchanged at AUD4.06 (US$0.60)/kg. Overall food prices for the year increased 1.4%.