Imported Beef Stocks High During July
JAPAN - A combination of increased imports and slow demand in the market elevated imported beef stocks in Japan during July, to 85,968 tonnes (boneless equivalent), up 23 per cent year-on-year (data released by the Agriculture and Livestock Industries Corporation of Japan), reports Meat and Livestock Australia (MLA).
13 September 2011
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MLA reports that, the inventory was the highest since November 2002, with 89 per cent being frozen product (up 34 per cent from last year).
Consumption of imported beef during the month increased seven per cent on the same month in 2010 to 43,884 tonnes, but a surge in import volumes (up 12 per cent to 48,402 tonnes) pushed up already high stock levels further.
MLA states that demand for Japanese domestic beef was severely hit by the radioactive contamination found early in the month. Despite the lower production volumes during the month (down 11 per cent year-on-year), inventories increased 10 per cent on June, to 11,422 tonnes (four per cent less than a year ago).
Consumption was down nine per cent to 26,261 tonnes.
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