Beef trade: US exports boom
Beef trade

US exports boom

Imago / ZUMA Wire
According to USMEF, beef exports are rushing from record to record this year. The most important customer is Japan.
According to USMEF, beef exports are rushing from record to record this year. The most important customer is Japan.

USA, Denver. The US Meat Export Organization (USMEF) reported that export receipts from international beef sales, including byproducts, surpassed the record monthly mark of $1 bn., or the equivalent of €864 mill., for the first time in August.

From January to August 2021, export volumes shot up by 146,750 t, or 18.1%, to 955,410 t compared to the same period last year; export revenues even increased by € 1.44 bn., or a good third, to € 5.72 bn. Although it must be taken into account that 2020 Corona wiped out some business, the current export data are also significantly above the level of the previous record year 2018 in terms of volume and value.

Trade with China gives a boost

A major contributor to the current boom in US beef exports is the flourishing trade with the People's Republic of China. The volume of fresh, frozen and processed meat shipped there has increased more than ninefold to nearly 120,000 t compared to the first eight months of 2020. The reason, according to USMEF, was the removal of market access barriers under the US-China Phase 1 Economic and Trade Agreement.

Within a very short time, China has become one of the top five customers for US beef; the resulting revenue of € 825 mill. in the period from January to August 2021 exceeded even those for the recently poorly performing pork business with China by a good quarter.

Growth in all trading partners

Japan remained the most important buyer of US beef on the world market with 216,410 t; this was 3.3% more than from January to August 2020, with US suppliers enjoying additional revenues of 13.6% due to increased sales prices with proceeds of € 1.30 bn.

Sales in South Korea were even more dynamic, with a 12.9% increase in volume to 189,960 t and a 27.6% rise in export revenue to €1 .30 bn. According to USMEF, significantly more chilled beef was sold to both Asian countries to meet the resurgent retail and restaurant demand there.

US suppliers achieved further sales successes with growth rates of between 17 and 27% in Mexico and the Caribbean, as well as in South America and the ASEAN countries.

Source:; AgE


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