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Australian Beef Export Value Hits A$7.79 billion

11 February 2015
Meat & Livestock Australia

AUSTRALIAN - Unprecedented Australian cattle slaughter underpinned record beef and veal export volumes in 2014, which helped the overall export value finish the year at a A$7.79 billion – 36 per cent greater than the previous record set in 2013.

Meat and Livestock Australia said that the US alone accounted for A$2.43 billion, up 138 per cent year-on-year, with almost 400,000 tonnes exported to the US during the year.

Assisting the strong market was the low point in US beef production, coupled with strong global demand and the weakening Australian dollar.

Japan was the second largest export market, both on a volume and value basis, with export receipts up 15 per cent year-on-year, to A$1.65 billion, with over half (54 per cent) of the value accounted for by chilled boneless product, at A$894 million.

The export value to Korea in 2014 finished the year 20 per cent higher than the year before, at A$945 million, while to China, the value declined by nine per cent, to A$660 million.

Export values to the Middle East (A$374 million) increased by 13 per cent year-on-year, despite a slight reduction in the volume exported, while Indonesia (A$280 million) increased 45 per cent, assisted by a significant volume increase.

The EU export value jumped 38 per cent, to A$279 million, coinciding with a slight increase in volume, and remained the most valuable large market on a dollar per kilogram basis, at A$10.53/kg.

The forecast weaker Australian dollar will assist export values in 2015, yet the anticipated tighter supplies are likely to underpin an overall decline in export values this year, according to MLA.

TheMeatSite News Desk

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