December 27, 2006

Australian beef goes strong in Asia

Australia exported a record amount of beef to lucrative north Asian markets this year, increasing competition for the US.

Meat and Livestock Australia's Peter Weeks said local shipments of beef to South Korea this year had already surpassed last year's record, while exports to Japan were rapidly "closing in" on the record, also set last year.

The news came despite a tough season for Australia owing to one of the worst drought and the re-entry of US beef into the markets earlier this year.

While both Japan and South Korea lifted their ban on US beef imports, stringent restrictions by the two governments have prevented large amounts of US product returning to either marketplace.

Australia seems to have taken this to its advantage and its exports to South Korea were likely to total 145,000 tonnes this year, up from 106,000 tonnes last year and 62,000 tonnes "pre-mad cow" in 2003, said Weeks.

In Japan, Weeks said, exports were likely to beat the last year's 405,000 tonnes.