Russia's Gradual Return to Buying Beef
RUSSIA - There are early signs that beef buying from Russia is picking up. Imports increased last month, following low levels over the previous three months.
16 March 2009
1 minute read
Brazilian exports to this market reached 25,179 tonnes swt in February, up 57 per cent on January, with a 6 per cent increase in average prices to US$2,317/tonne, says Meat and Livestock Australia.
Uruguay has also seen an increase in demand from this market, with a total of 3,125 tonnes shipped in February, up 7 per cent on January 2009 and 38 per cent higher than October 2008 (when exports bottomed out).
In addition, Russia has restarted buying Paraguayan beef, after practically stopping imports from this country since last August as a result of the global financial crisis. During the first half of February, Russia imported 1,500 tonnes of fresh beef, after importing only 117 tonnes in January.
Australian beef exports to Russia totalled 681 tonnes in February, with chuck and blade accounting for 51 per cent, silverside 23 per cent and manufacturing product only 6 per cent. If this slight resumption of trade to Russia develops into a modest trade, this may serve to re-ignite competition for Australian manufacturing grade product in world markets, allowing the lower A$ to be reflected in prices for trim and lower priced cuts and Australian cattle.
TheCattleSite News Desk
