Japan’s Beef Inventories Up 23 Per Cent13 June 2014
JAPAN – Beef inventories have strengthened in Japan this spring, according to the latest supply and demand data by the Agriculture and Livestock Industries Corporation (ALIC).
Steady supplies were met with ‘soft’ demand in April. This included a 28 per cent rise in beef imports on last year.
In a review of ALIC analysis, market analysts at Meat and Livestock Australia drew out a 94,234 import figure for April which took the domestic beef inventory to 12,405 tonnes.
A rise in consumption tax did not dissuade consumers from beef as demand remained ‘firm’, although decreased slightly.
However, MLA revealed ALIC preliminary ALIC data shows imports are beginning to ease off.
“ALIC forecasts that beef imports during May and June have decreased by 21.7 per cent and 10 per cent, respectively, compared with high volumes in 2013," said MLA.
"It also anticipates that the Japanese beef production has decreased by 6.7 per cent in May, and 3.9 per cent in June, largely due to reduced Wagyu slaughter.”
TheCattleSite News Desk