Australia's herd rebuilding impacts exports in 2021
Australia’s beef and veal exports declined by 14.6% to 887,682 tonnes in 2021, according to industry body Meat and Livestock Australia.
Japan was Australia’s largest customer, importing 216,000 tonnes of Australian beef, a 13% decline from 2020.
This was because local production increased and the food service sector remained depressed as a result of covid-19 related disruption. Japan also imported more from Canada, New Zealand and Mexico as price increases in Australian beef made it less attractive.
South Korea was the only market to import slightly more beef in 2021, importing 165,000 tonnes compared to 161,000 tonnes in 2020.
The US imported 145,024 tonnes of Australian beef in 2021, a 32% decline on 2020. American domestic production reached a record 12.7 million tonnes.
Australian beef and veal exports averaged AU$9.36 per kg over 2021, a 7.6% increase on 2020 prices. However, lower volumes saw an overall decline of 5.1% to $9.1 billion.
For 2022, production is projected to rise in Australia as the restock continues to mature, while global demand is expected to outpace increases in supply.
