Beef exports firm at year end

The Detail

Total beef export figures for December gained 6% from the November flows to see 85,044 tonnes swt consigned. While the trend since September shows steady improvement in beef export volumes the December total sits 14% under the five-year average seasonal level for this time in the year.

The annual total beef export volume for the 2020 season reached 1,039,411 tonnes swt, 15% under the volumes achieved during the 2019 season and 8% below the five-year average annual trend.

In terms of key beef export destinations for the 2020 season, Japan regained top stop from China to see a total of 269,302 tonnes shipped putting flows to Japan at 25.9% of Australian beef export volumes. The USA took out second place with 211,514 tonnes swt consigned, representing 20.3% of total beef export flows.

China slipped from top spot in 2019 to third place with total beef export volumes from Australia easing 34% from the 2019 levels to see 196,696 tonnes swt exported, representing 18.9% of total beef exported from Australia for 2020. While this is a significant reduction in volumes it still represents 20% higher flows than the five-year average annual volumes.

South Korea retains fourth spot with 160,850 tonnes swt of Australian beef exports consigned during 2020, holding 15.5% of the total beef product exported from Australia.

Japan

During December beef export volumes from Australia softened 11% from the November levels to see 22,575 tonnes swt exported. While volumes eased over the month the softening trend is consistent with the average seasonal pattern and the December 2020 figures are just 2% under the five-year average for December.

USA

Australian beef exports to the USA over December lifted 58% to see 15,201 tonnes consigned. As the average seasonal trend shows it is not uncommon to see a strong finish to the year for USA beef flows. Despite the solid end to the year volumes remain 40% under the average seasonal pattern for December.

China

Chinese demand for Aussie beef exports increased 16% from November to December to record 15,149 tonnes swt shipped. Beef flows to China have remained below the average seasonal pattern since July and December was no exception, with volumes running 9% below the five-year December average.

South Korea

Reflecting a positive end to the 2020 season, Australian beef flows to South Korea have remained above the average seasonal pattern during December. Indeed, South Korea was the only top four destination for Aussie beef product to manage above average volumes for the whole of the last quarter of 2020.

December volumes to South Korea managed to hit 16,391 tonnes swt, representing a level 3% above the average seasonal trend for this time in the year.