USMEF expects 2021 to be a good year for beef exports
US beef exports posted one of the best months on record in November, according to data released by USDA and compiled by USMEF. "Demand for U.S. beef in the global retail sector has been outstanding and we expect this to continue in 2021. Unfortunately, foodservice continues to face COVID-related challenges. We expect a broader foodservice recovery this year, especially from mid-2021, but will likely still see interruptions in some markets," said USMEF President and CEO Dan Halstrom.
November beef exports totalled 115,337 tonnes, up 6% from a year ago and the largest since July 2019. Export value climbed 8% year-over-year to $707.5 million. Encouraging results are coming from Mexico, Taiwan, Guatemala but also from China, a country that has increased demand for US beef by 700%, compared to November 2019. Beef exports to Japan, the main market for these products were steady, while the South Korean market has slightly reduced the demand. Both Asian countries have signed FTA's with the US in the last couple of years.
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