The Australian beef export record
17% above the previous high recorded just 12 months ago.
The Australian beef export record has now been broken for three consecutive years. Beef shipments for 2014 totalled 1.29 million tonnes swt – a staggering 17% above the previous high recorded just 12 months ago.
Beef shipment to the US finished the year at 397,890 tonnes swt, up 87% from the previous year, with exporters capitalising on the high beef prices over the course of the year. Japan finished the year strongly, with monthly exports gradually creeping higher as the year progressed, to take the final figure for 2014 to 293,779 tonnes swt, up 2% year-on-year – encouraging, despite Japan falling back into recession towards the end of the year. Shipments to Korea were up 5%, to become the highest on record for Australia, at 150,918 tonnes swt, with demand upheld by the limited US competition.
Exports to the EU continued to build momentum through the grainfed beef quota, with shipments for 2014 at 24,619 tonnes swt, up 24% from the previous year. Indonesia completed the year with beef exports 35% higher than the previous year, at 53,139 tonnes swt.
Shipments to China reduced 20% year-on-year, at 124,586 tonnes swt, with trade interrupted throughout the year due to changes in import protocols and regulations. Exports to the Middle East also slowed somewhat, albeit to finish the year just 2% below the 2013 level, at 59,803 tonnes swt.
Incredibly, 74% of Australian beef production was exported in 2014. Indeed, the proportion exported has been gradually creeping higher over the past decade i.e. from 62% in 2003, to 69% in 2013, however, given the strong international fundamentals, it is anticipated this trend will at least hover around 70% for the coming years.
