US beef exports declined after Japan imposed new trade tariffs
Japan introduced new tariffs in order to protect its local producers. Taxes on the US exports rose from 38.5% to 50%.
According to Meatingplace, in August this year, Japan's imports of frozen beef from the United States represented 4,317 metric tons, down by 26% year-over-year.
Still, the US Meat Export Federation (USMEF) explains that some of the decline reported in August could be linked to additional products that were ordered ahead of the duty rate increase.
Furthermore, according to USMEF, August beef exports to leading market Japan totaled 31,001 mt, up 22 percent from a year ago and the largest of the post-BSE era. Export value to Japan increased 35 percent and broke the $200 million mark ($200.05 million) for the first time since May 1996.
For January through August, exports to Japan were up 23 percent in volume (209,502 mt) and 30 percent in value ($1.28 billion). Japan’s frozen beef safeguard was triggered in late July, increasing the duty on frozen beef imports from suppliers without a trade agreement with Japan, including the U.S., from 38.5 percent to 50 percent. The true impact of the higher duty rate will be revealed over the next few months, but August demand was not significantly affected. Frozen exports were 9,991 mt, up 15 percent from a year ago and just 2 percent below July. Chilled shipments accelerated at a faster rate (16,732 mt, up 62 percent year-over-year and up 27 percent from July), but this was already the trend prior to the duty rate increase on frozen beef.
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