December 2, 2009

Increase in frozen beef imports lifts October volumes in Japan

Japan imported 49,171 tonnes swt (slaughterweight) of beef in October, up 33 percent on last year, figures from the Ministry of Finance show.

The increase was largely the result of a surge in frozen beef imports, 55 percent higher than a year ago, at 31,156 tonnes.

In addition, it seems that some frozen beef stocks that had been held in the bonded warehouse were also cleared for the distribution in the market. October is the beginning of the second half of the Japanese fiscal year, which would allow Japanese businesses to replenish depleted stocks for the upcoming high demand season. The appreciation of the Japanese yen against the US$ may have also encouraged the clearance.

In comparison, chilled beef imports increased 7 percent in October year-on-year to 18,015 tonnes.

Imports from Australia and the US totalled 35,712 tonnes (up 28 percent on October 2008) and 8,220 tonnes (up 45 percent), respectively.