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Australian beef price hikes hit Japan

10 October 2006

JAPAN - The average price of imported beef in Japan hit its highest level on record last week as Australian beef price hikes were coupled with the yen's decline, the Agriculture, Forestry and Fisheries Ministry said.

Last week's average price of refrigerated loin beef imports rose by Y8 (nine Aust cents) per 100 grams from the previous week to Y384 ($A4.34), the highest price since the ministry launched a weekly beef price survey in August 2003.

Japan's beef imports come primarily from Australia.

Growing beef demand in Japan also contributed to the rise in the price of imported beef, the ministry said.

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