Australian beef exports to fall in 2008

by Editor
Monday, February 11, 2008

Competition from the United States in Japan and South Korea will help force beef exports from Australia to dip some 5.5% this year.

Total shipments of beef and veal are projected to fall to 890,000 tons, compared with last year’s 941,000 tons and a record 953,900 tons in 2006, Bloomberg reported, citing Meat & Livestock Australia’s latest cattle and sheep industry projections report.

Australia benefited from the closures of the Korean and Japanese markets to U.S. beef following the first U.S. case of bovine spongiform encephalopathy in 2003, but those markets are expected to ease restrictions on U.S. imports this year.

Japan and South Korea are Australia’s largest and third-largest export markets, respectively.

Exports are forecast to rise from 2009 to reach a record 995,000 tons by 2011 and 1 million tons by 2012, the group’s experts said. Australia is the world’s second largest beef exporter behind Brazil.