December 29, 2003

Prices of Domestic Beef and Pork in Japan Soar Following US Meat Ban

Japan's ban of beef imports from the United States has resulted in a massive increase in wholesale prices of Japanese-raised beef and pork.

Wholesale beef last Friday rose by between 12 - 15 % compared with prices on Tuesday, before the mad cow case was found, citing data from the Japan Meat Market Wholesaler's Association's data.

Pork demand is also rising as an alternative to beef, the report said. Pork wholesale prices rose 34% in Tokyo and 19% in Osaka compared with Tuesday's prices, and retail prices may eventually increase.