The market value of Australian beef and veal exports reached a new record in September, totalling $712 million, according to latest industry data.
Export sales increased by 42 percent from the same month last year – boosted by competitive prices in export markets.
According ton the Australian Bureau of Statistics beef and veal exports totalled $5.3 billion for the calendar year-to-September – up 31 percent year-on-year.
The US remained the highest valued beef export market for Australia in September, with a market value of $282 million. This was more than three times last year’s level, as high prices for manufacturing beef have upheld throughout 2014.
And the export value to the US for the first nine months of the year reached $1.51 billion – more than double the corresponding period in 2013.
Interestingly, the US accounted for 40 percent of the total value for the month, compared to September last year when the market was 18 percent of overall share.
Demand in Japan for Australian beef remained strong in September, with shipments valued at $148 million – up 35 percent year-on-year and 26 percent on the September five-year average. The aggregate value from January to September was up 6 percent from 2013, at $1.13 billion.
Japan’s market share in September was 1 percent lower than a year ago, at 21 percent of total value. This was due to increased competition from the US and strong growth in developing export markets.
September saw the market value to Korea increase 2 percent from last year and was up 22 percent on the previous five-year average, at $70 million.
And for the calendar year to September it was 23 percent higher year-on-year, at $647 million.
In contrast, the value of Australian beef exports to China eased in comparison to last year’s high base, back 37 percent to $45.5 million.
But for the first nine months it was steady year-on-year, at $499 million.
The market value to the Middle East was up 4 percent from September 2013, at $28.4 million, while the EU increased 9 percent over the same period, at $22 million.
Source: Meat and Livestock Australia