- Japanese demand for Australian beef exports lifted 85% over May.
- South Korea, managed a respectable 24% increase in Aussie beef export volumes from April to May.
- During May, beef export volumes from Australia to China lifted by 16% with the current season’s pattern closely mirroring the trend seen during 2021.
- Meanwhile, the USA posted an 11% lift in beef exports from Australia in May.
- Increased flows across the top four beef export destinations for Australia saw total flows for May increase by 30% from the trade lull seen in April.
Japanese demand for Australian beef exports have seen a remarkable recovery over May with trade volumes lifting by 85% over the month. Beef exports hit 25,606 tonnes swt, which is the highest monthly flows sent to Japan in 18 months.
The surge in beef exports to Japan places the current volumes just 2% under the five-year average levels for May. The strong result for May 2022 extends Japans position as number one beef export destination for Australian beef product with their market share of total Aussie beef exports during this year hitting 27%, the highest this proportion has been since 2018.
South Korea, currently sitting in third place for top beef trade destination for Australia at 17% of the total beef flows, so far this year managed a respectable 24% increase in Aussie beef export volumes from April to May.
Beef exports to South Korea finished at 13,220 tonnes in May 2022, mirroring Japan’s result compared to the five-year average trend for May sitting just 2% under the seasonal average pattern.
China sits 21% under the five-year average trend for May at 13,599 tonnes swt. Despite the weaker performance, relative to the seasonal average, China retains the second top spot for market share of beef trade destinations from Australia accounting for 18.5% of the total Aussie beef exports so far in 2022. During May, beef export volumes from Australia to China lifted by 16% with the current season’s pattern closely mirroring the trend seen during 2021.
The USA posted an 11% lift in beef exports from Australia in May to see volumes of 10,992 tonnes registered. Despite the increase over the month the current US flows sit 46% under the five-year average for May and are in fourth top spot for market share of total Aussie beef exports holding 15% of the trade this season.
Total exports increased 30% from April to May to hit 79,995 tonnes swt. This is the strongest monthly result seen for total Australian beef export flows since September 2021, but compared to the five-year average for May levels remain 18% under trend.