Frozen Beef Lifts October Import Volumes in Japan
JAPAN - Japan imported 49,171 tonnes swt of beef in October, up 33 per cent on last year.
1 December 2009
1 minute read
The increase was largely the result of a surge in frozen beef imports, 55 per cent higher than a year ago, at 31,156 tonnes.
In addition to the shipments that arrived and cleared during the month, it appears that some frozen beef stocks that had been held in the bonded warehouse were also cleared for the distribution in the market. October is the beginning of the second half of the Japanese fiscal year, which would allow Japanese businesses to replenish depleted stocks for the upcoming high demand season. The appreciation of the Japanese yen against the US$ may have also encouraged the clearance.
In comparison, chilled beef imports increased seven per cent in October year-on-year to 18,015 tonnes.
Imports from Australia and the US totalled 35,712 tonnes (up 28 per cent on October 2008) and 8,220 tonnes (up 45 per cent), respectively.
TheCattleSite News Desk
