By Jamie Martin
The U.S. witnessed a substantial rise in beef exports, especially to Japan, hitting the highest monetary value in nearly two years.
The U.S. Meat Export Federation reported that while overall exports slightly declined by 4% to 110,155 metric tons, the export value rose by 3% year-over-year to $938.3 million, the highest since August 2022.
Dan Halstrom, President and CEO of the U.S. Meat Export Federation, highlighted Japan's exceptional performance. For two consecutive months, Japan's imports have increased by 8% in volume and 9% in value, totaling $182 million for the month.
This rebound is particularly noteworthy given the recent economic challenges faced by Japan, with significant contributions stemming from the food service sector.
Besides Japan, Taiwan also recorded robust figures, marking the third-largest export volume on record. In contrast, exports to South Korea fell short of the previous year's figures but showed improvement from May. Canadian markets showed the strongest performance in nearly a decade.
Despite a 4% decline in volume, the total value of beef exports in the first half of the year rose by 5% to $5.22 billion, indicating a resilient demand and a robust global market for U.S. beef, underpinned by strong performances in key Asian markets.
Photo Credit: gettyimages-sstajic
Categories: National