September 26, 2011

 

Australia's beef and veal export value dips in July

 

 

The total value of beef and veal exports dropped 5% on-year in July, to AUD398 million (US$391 million) FOB.

 

The high Australian dollar (up 23% on-year) and lower export volumes (down 11% on-year) led to the decline in exporter returns.

 

The fall in overall values was due to lower returns from Australia's two highest valued markets - Japan and the US. Values to Japan and the US fell 22% and 26% on-year, respectively.

 

However, helping to offset these significant falls were improved returns to other markets. Export values to Korea improved 2% on July last year, to AUD57 million (US$56 million), while export returns to Indonesia, Taiwan, the Middle East, and the EU all increased 49%, 16%, 67% and 100% on-year, respectively.

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