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Global beef export price up on average, but diverging trends between Europe and Asia
Thursday, 23 January 2020
By Rebecca Wright
The global beef export price* during the first 11 months of 2019 is up on-the-year, to around $5,400/tonne. The total volume of beef exported by the five largest exporters currently stands at around 4.4 million tonnes, up from 3.9 million in the same period of 2018. With the volume and price up, the value has reached $23.6 billion. The value of beef exported by these countries is more than likely to top $25 billion in the 2019 year, with $26 billion a possibility.
However, although the global beef export price has tracked upwards during 2019, there was a divergence between different regions. The average import price to the EU is down almost 6% in US dollar terms (volumes have fallen slightly too), whereas China has recorded a 6% price rise. Meanwhile, Japan and South Korea recorded steady import prices.
*weighted average of the five largest beef exporters in the world – Brazil, Australia, US, New Zealand and Argentina.
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