January 7, 2004

Australian Beef Prices Up 10% in Japan

Wholesale prices of Australian beef in Japan shot up by more than 10% following an import ban on American beef.

The price of frozen Australian beef in Japan has increased to $A11.68 a kilogram, up $A3.32 a kilogram since 23 December 2003. The increase has followed the Japanese Government's decision to ban the import of US beef after the outbreak of "mad cow" disease, or bovine spongiform encephalopathy, in Washington State in the US in December 2003.

Western Australian exporter Harvey Beef said that business had increased by about 30 per cent, due to interest from Japan and Korea.

Japanese and Australian officials are scheduled to meet today to discuss potential supply opportunities.