28 May 2012

2 minute read

Of the total allocation of 66,625 tonnes swt for the 2011-12 fiscal year, 33,709 tonnes swt remains unused, which is very unlikely to be utilised with only May and June remaining.

Argentina, the largest EU quota holder with 29,375 tonnes swt, as of the end of April still had 15,052 tonnes swt of allocation unused. The final distribution of the quota by the Argentinean government only occurred in March – nine months after the beginning of the quota period. This has made it almost impossible for Argentinean companies to ship all of the quota allocation for 2011-12. In the first six months of the 2011-12 quota year, Argentina shipped 8,286 tonnes swt under the Hilton quota, with companies only given small amounts of allocation as advances ahead of the final allocation.

The US and Canada have the second largest allocation (11,500 tonnes swt), with only 22 per cent utilised by the end of April. Brazil (10,000 tonnes) only shipped 24 per cent of its allocation during the same time period.

Australia, with a quota allocation of 7,150 tonnes swt, had shipped 91 per cent of total allocation to the end of April. With two months remaining at time of the publication of the import figures, it is likely that this percentage will increase slightly, although full usage is unlikely given the long lead time for product to reach the European market.

TheCattleSite News Desk