June 22, 2007

Taiwan's demand for US beef falls on high prices

High prices of US beef from cattle less than 30 months of age have fallen in the Taiwan wholesale market over the past few months. As New Zealand also escalates its beef prices, Taiwan's interest for Australian beef has grown, according to the monthly retail survey of Meat and Livestock Australia (MLA).

MLA said the price hike of Australian beef is still cheaper than its US and New Zealand counterparts.

Price of US chilled oyster blade rose 18 percent since June 2006 to average A$12.00 (US$10.16) per kilogramme in June 2007, while the average price of the Australian equivalent jumped 41 percent over the same period to A$9.43/kg (US$7.98). The price of New Zealand frozen cube roll/rib eye was also up 38 percent from last year, to A$10.52/kg (US$8.90), on average.