Global markets: Beef imports in Japan plummet in September
The countries that imported the most beef from Brazil in 2024 were: China, the United Arab Emirates, the United States, Hong Kong and Chile. In terms of price, the average value in October was USD 4,660 thousand per ton, a slight increase of 1.4% compared to the value negotiated a year ago, generating revenues of USD 1,259 million, compared to USD 855.6 million in October 2023.
In Australia, beef exports are not reaching a ceiling, supported by demand from the United States. Although exports totaled 130,048 tons in October, the country is on track to comfortably surpass the maximum of 1.28 million tons per year established in 2014. In the first 10 months of the year, the cumulative total is 1.097 million tons, 24% more than last year to date, adding 215 thousand tons.
Shipments to the United States accounted for 34% of the total in the last month, with 45,338 tons, the second highest figure in history behind September 2014 when the US industry was going through a stock recovery cycle and Australia placed 47 thousand tons in that market. So far this year, the 317,532 tons of Australian meat imported by the United States represent a year-on-year increase of 66%, almost 127 thousand tons more than in January-October 2023.
Beef exports in the United States posted good results in September. According to data published by the USDA and compiled by the United States Meat Export Federation (USMEF), beef exports in September totaled 103,980 tons, 5% more than the previous year, while sales value rose 6% to $843.8 million.
With the exception of China/Hong Kong, exports last month were higher than a year earlier in all major Asian markets, while demand remained strong in Mexico and shipments to Central America were the largest in 18 months. From January to September, overseas sales rose 5% in value to $7.82 billion, although volume fell 2% to 960,814 tonnes.
Beef imports in Japan plummet in September. Beef imports from Japan fell 21.9% in September from the previous month to a seven-month low of 38,177 tonnes. This is the lowest level since February 2024.
This monthly slowdown can be traced back to the challenges of Japan’s scorching summer, which reduced consumption in the food service sector and led to inventory build-up in key regions such as Tokyo and Osaka. The Obon festival in mid-August was initially expected to boost eating out after the rainy season, but typhoons around that time disrupted plans and further slowed inventory turnover.
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