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US Beef exports to China soaring, October data showed

Beef

October beef exports to China climbed to a record 6,831 mt valued at $48.1 million, easily exceeding previous record levels reached in recent months. Through October, exports to China were up 219% in volume (24,709 mt) and 187% in value ($177.7 million) from a year ago, but have been especially strong since China’s foodservice sector rebounded from COVID-19 related restrictions imposed earlier in the year. In Hong Kong, where the foodservice recovery has seen more interruptions, January-October exports were down 5% from a year ago in volume (67,882 mt) and 9% lower in value ($541.4 million).

Posted on Dec 09 ,08:21

US Beef exports to China soaring, October data showed

Beef exports to leading market Japan achieved solid growth in October, topping last year by 10% in volume (23,353 mt) and 8% in value ($146.8 million). Through October, exports to Japan trailed last year’s pace by 2% in both volume (257,083 mt) and value ($1.61 billion). Japan has increased imports of U.S. short plates, largely for use in gyudon beef bowl restaurants which have performed relatively well due to their quick-serve and takeaway nature. But this growth has been partially offset by smaller volumes of chuck and loin cuts that are more reliant on full service, sit-down dining. U.S. market share for Japan’s total beef imports was 43.7% through October, up from 40.5% last year, as Australia’s share declined from 45.5% to 41.2%.

Exports to South Korea were slightly below last October at 19,389 mt, with value down 2% to $135.4 million. January-October exports to Korea were 3% below last year’s record pace at 209,101 mt, while value was down 6% to $1.46 billion. However, chilled exports to Korea were up 29% from last year’s record at 58,370 mt, valued at $554 million (up 27%). U.S. market share for Korea’s chilled beef imports was 64.2% through October, up from 61.7% last year. U.S. market share for total beef imports also increased, climbing from 50.4% last year to 52.9% in 2020.

U.S. beef is also coming off a record year in Taiwan, and could set new highs in 2020. October exports to Taiwan reached 5,877 mt (up 15% from a year ago) valued at $46.7 million (up 9%). Through October, exports exceeded last year’s pace by 2% at 54,162 mt, though value was down 2% to $460.3 million. Chilled exports to Taiwan were up 21% to 22,140 mt, valued at $256 million (up 15%). The U.S. dominates Taiwan’s chilled beef market, capturing a 76% share in 2020.

Other January-October highlights for U.S. beef exports include:

  • Although still below year-ago levels, October beef exports to Mexico were the largest since March at 16,783 mt, valued at $71.9 million, reflecting a recent uptick in foodservice demand. Through October, exports to Mexico were 27% below last year at 142,850 mt, valued at $620.6 million (down 32%), but USMEF expects demand to strengthen in coming months as tourism and restaurant traffic rebound.
  • Led by a record performance in leading market Guatemala, October beef exports to Central America were 3% higher than a year ago at 1,492 mt, with value up 5% to $8.5 million. Exports to Guatemala reached 819 mt (up 52%), while exports to Costa Rica (312 mt) were the highest since February. Through October, exports to the region still trailed last year by 16% in volume (10,762 mt) and 22% in value ($56.9 million).
  • Following a down year in 2019, beef exports to Canada have rebounded significantly. January-October volume was up 11% to 91,477 mt, while value climbed 13% to $618.6 million. Canada’s beef production is down 3% in 2020 and exports (through October) declined 7% to 346,480 mt. Canada’s January-October beef imports increased 28% to 162,000 mt, including strong growth from New Zealand, Uruguay, the European Union and Mexico, as well as from the United States.

Africa continues to be a bright spot for beef variety meat exports, with January-October volume exceeding last year by 59% at 24,028 mt. Export value was up 56% to $18.1 million, led by excellent growth in South Africa, Côte d’Ivoire, Gabon, Angola and Ethiopia.

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