Lower A$ boosts beef export values
10 November 2015
Australian beef exports in September generated total receipts of A$797.4 million FOB – 15% higher year-on-year (Australian Bureau of Statistics). This brought the year-to-date total to A$6.98 billion, up 32% on the corresponding period last year.
While the beef export volume for the year to September was only 4% higher year-on-year, the depreciating A$ has contributed to the much larger increase in overall receipts. The A$ averaged 76US¢ for January to September this year, compared to an average of 92US¢ for the same nine month period in 2014.
Compared to last year, all of Australia’s major beef export markets registered higher January–September export values:
- The US – $2.5 billion, up 65%
- Japan – $1.4 billion, up 21%
- Korea – $872 million, up 35%
- China – $724 million, up 45%
- Saudi Arabia – $173 million – up 28%
Beef export values to Indonesia and Taiwan were 20% and 13% lower year-on-year, at $166 million and $155 million for the year to September, respectively.
The average unit beef export value for the January to September period was $6.95/kg – an increase of 27% on last year.
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