A$ And Tight Supplies Hit Beef Export Values
AUSTRALIA - The value of Australian beef and veal exports continues to be impacted by the high Australian dollar and lower volumes, with shipment values for January to August back four per cent year-on-year, at $2.8 billion.
25 October 2010
1 minute read
According to Meat and Livestock Australia, the main driver of the lower returns in 2010 has been the higher Australian dollar, which has averaged 18 per cent higher than in 2009, at 90US¢, and recently touched parity with the US$.
Contributing to the lower returns in 2010 has also been tighter beef production and lower export volumes. The value of Australian beef shipments to the US for the first eight months of 2010 were back 21 per cent year-on-year, to A$577 million, while export values to Japan contracted 11 per cent, to A$1.14 billion.
However, there has been value growth to some markets in 2010, most notably to Korea, with returns up 24 per cent year-on-year, to A$411 million. The value of shipments also rose to Russia and the Middle East, which have taken more beef in 2010, with values up 134 per cent to A$109 million, and 34 per cent to $77 million, respectively.
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