May 3, 2010

Japan imported 42,782 tonnes swt of beef in March, up 22% on-year and the highest March volume since 2006.

The strong outcome was largely due to improved supply from Australia, particularly frozen varieties, as well as rising beef imports from the US.

According to Japan's Ministry of Finance, 32,854 tonnes of Australian beef were imported into Japan during March, 17% higher than the previous year. Imports from the US grew by 56% to 5,551 tonnes, but only 22% of the pre-BSE 2003 level.

During the March quarter, US beef imports totalled 14,867 tonnes, up 45% on last year, but only 22% of 2003. The improved availability of beef from cattle under 21 months as well as the favourable exchange rates for Japanese importers assisted the rise this year.

The Australian dollar appreciated 32% on-year against the Japanese yen during the quarter, while the US dollar depreciated by 3% against the yen.