December 3, 2010

Huge Russian demand boosts Australian beef

Surprisingly strong Russian demand has helped bolster once more Australia's beef exports.

November figures show Russia was the third biggest market for Australian beef, outstripping the US for the second month in a row.

Economist Tim McRae says Russian exports would normally start easing at this time of year. "I think it's both a signal of just how strong demand is, how much they want to get their hands on imported beef in the Russian market," he said.

"What it does do for Australian exporters is it adds an extra competitor to the market, which makes the other buyers like Japan and Korea stand up and take notice," McRae added.