USMEF targets diversification of beef export destinations
12/09/2016
For the first seven months of 2016, the volume of exports was up 4% to 640,888 metric tonnes, but there was a 10% drop in value to $3.44 billion.
Japan and South Korea remain the most popular destinations for US beef, which USMEF says is driven by strong demand for chilled beef.
Japan’s imports were up 10% in volume compared to July 2015, while value was steady at $129 million.
South Korea’s imported 16,459 metric tonnes of US beef in July, a 37% increase on the same month last year. These imports were valued at $94.5 million (+27%).
USMEF says the ongoing drop in exports to Egypt shows the need for the US to find more destinations for its beef. July saw respective drops of 26% and 50% in the volume and value of US beef entering Egypt.
“We are pleased to see demand for U.S. beef variety meats increasing in other markets, and helping to offset the slowdown to Egypt,” said Philip Seng, USMEF president and CEO. “It is a top priority for USMEF and our beef industry partners to expand the reach of beef variety meat exports and build demand in alternative destinations, and those efforts are paying off.”
Share this story:
