October 4, 2010

Japan's beef imports improve in August

Japan imported 45,366 tonnes swt of beef in August, up 17% from the same period in 2009 and the highest monthly total since October 2009, according to Japan's Ministry of Finance.

The increase was largely due to low import volumes in June and July, which were down 8% and 13% year-on-year, respectively.

Imports from Australia rose 15% year-on-year, to 31,199 tonnes, while US volumes also increased, up 11% to 8,986 tonnes (still 47% of pre-BSE levels in 2003). Year to date total imports reached 317,024 tonnes, only 1% lower compared with the same period last year.

The Japanese wholesale market reported reasonable interest in chilled imported beef this week, as market demand gradually shifts from barbecue cuts to fine slice items (shoulder and round cuts for hot pot cooking).

In the beef export market, Japanese buyers were extremely cautious, with the Australian dollar moving higher throughout the week. Inquiries were focused on replenishing items that have been in immediate demand, such as trimmings and frozen shoulder/round cuts, but bids from Japan were often below expectations as they faced strong competition, mainly from Russia.