December 17, 2010

Japanese beef stocks level-off in October

Stocks of imported beef in Japan have levelled off at the end of October, totalling 76,832 tonnes (boneless equivalent), 2% higher than a year ago, but 5% lower than the previous month when stocks reached 80,503 tonnes - the highest since February 2003.

The higher inventory in September had been largely caused by increased imports (up 43% on-year), but a reduced intake in October (down 32% from 2009) adjusted stock levels lower.

As a result, imported beef consumption - based on the import volumes, domestic production, and the end of month stocks - during October declined 23% from 12 months earlier, to 37,227 tonnes.

Consumption of Japanese domestic beef also eased by 8% in October, to 29,737 tonnes. Total beef consumption (imported and domestic) during the 10 months to October totalled 687,042 tonnes, only 0.5% below the same time last year.