US March beef exports to Japan edge higher - USMEF
Exports up 1% from a year ago
28 May 2024
1 minute read
By: US March beef exports to Japan edged higher in value at $168.6 million, up 1% from a year ago and the highest since August, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Although March export volume fell 7% to 21,412 mt, this was the largest total in 12 months.
With the persistently weak yen weighing heavily on consumers’ purchasing power, first quarter exports to Japan fell 10% from a year ago to 62,692 mt, though export value was only down slightly (-1%) to $469.7 million.
Japan’s central bank took actions over the past week aimed at bolstering the yen’s value, which had recently fallen to its lowest level versus the US dollar since 1990.
