August 13, 2010

 

 

Australian beef and veal exports for July have jumped 8% on-year, as overall export demand continued to slowly improve, highlighted by increased shipments to Korea, Indonesia and Russia.

 

Assisted by higher production throughout June and July, exports for the past month totalled 89,623 tonnes swt - the highest monthly total since October 2008, according to the Department of Agriculture, Forestry and Fisheries.

 

Exports to Japan during July declined 2% on-year at 32,334 tonnes swt, the highest monthly total since March.

 

Sluggish consumer demand in Japan, along with the high Australian dollar, continues to see beef export returns constrained.

 

While still at a historically low level, exports to the US for July increased 2% on-year, to 20,699 tonnes swt - 7% below the five-year July average.

 

The combination of the high Australian dollar, tight manufacturing beef supplies and strong competition from other markets, including Russia, continues to keep export volumes to the US low, even with the lure of high imported beef prices.

 

Shipments to Korea during July were again robust, at 11,948 tonnes swt, taking exports so far in 2010 to more than 70,000 tonnes swt – 16% above the corresponding period in 2009.

 

Russia and Indonesia registered a jump in Australian shipments in July, at 4,618 tonnes swt and 5,201 tonnes swt respectively.

 

For Russia, the reduction in imports from South America has helped to fuel demand for Australian beef.

 

Demand from South-east Asia also continued throughout July, with on-year increases to the Philippines, Malaysia, Thailand and Singapore.

 

For the first seven months of 2010, Australian beef and veal exports totalled 525,719 tonnes swt - 4% below the corresponding period in 2009.