December 17, 2010

US beef exports to South Asia boosted by weak US dollar

US beef exports from major suppliers to Southeast Asia and Greater China during January to October and January to November (New Zealand, Brazil and Australia) all increased in 2010, assisted by the weak US dollar.

While robust demand in the region was the key driver for higher volumes, and shipments from the US were further assisted by the weak US dollar, exports from Australia and New Zealand continued to expand, even despite stronger currencies and reduced supplies.

US beef exports to Southeast Asia and Greater China during October jumped 8% on-year, to reach a new monthly record of 12,487 tonnes swt. Beef shipments for the 10 months to October were up 22% on-year, to a record 98,667 tonnes swt.

Beef exports from Australia and New Zealand to the region during January to November increased 5% and 15% on-year, respectively, to 121,284 tonnes swt and 71,922 tonnes swt. This was also a record volume from both nations for the period, with the majority of Australia's exports to Indonesia (45,024 tonnes swt).

Meanwhile, Brazilian beef exports to Southeast Asia and Greater China over the 11 months to November fell 30% on a year ago, to 79,423 tonnes swt. A redirection of beef volumes to both the Middle East and the Brazilian market contributed in the decline during 2010.

Indian carabeef exports to the region during the first half of 2010 also jumped 33% on-year, to 105,307 tonnes swt.