Beef and Veal Exports Hit Four Year High14 December 2012
AUSTRALIA - Australian beef and veal export values during October reached their highest level since November 2008, finishing the month 7 per cent above the corresponding month last year, at A$475 million according to the Global Trade Atlas.
Meat and Livestock Australia analysts said that underpinning the surge in export values during October was a significant rise in shipments.
While the high Australian dollar during October, trading at 103US cents, continued to challenge exporters, the last time the returns to exporters were this high, the Australian dollar traded at 0.66US cents, MLA said.
The overall surge in export values during October was despite a 16 per cent year-on-year reduction in export values to Japan, at A$130 million.
More than offsetting this decline was the significant improvement in returns to the next three largest markets, with returns to the US (A$89 million), Korea (A$76 million) and China (A$31 million) soaring 50 per cent, 12 per cent and 321 per cent respectively.