July 22, 2010

Japan's beef imports slide in May

Japan imported 30,737 tonnes of beef in May, a decline of 2% from 2009 levels, the Agriculture and Livestock Industries Corporation of Japan (ALIC) reported.

The nation consumed 61,152 tonnes (boneless equivalent) of beef in May, up 3% compared with the same time last year.

The lacklustre performance of the Japanese foodservice sector in May - total sales were down 1.7% on-year, combined with the increased import costs of Australian beef, contributing to the subdued consumption.

The import value (CIF) of Australian beef during March to May averaged JPY408 (US$4.72)/kg, up 9% compared with the same period last year. The Australian dollar during the same period, appreciated 13% against the Japanese yen on-year.

In contrast, consumption of local Japanese beef increased 9% on-year in May to 30,415 tonnes. Plentiful supply and slow consumption lowered Japanese beef carcass prices, resulting in reduced retail prices during the month.