Statistics Canada has reported that in the first quarter of 2016, Canadian beef exports are up 5% in volume and down 4.5% in value. Exports have been supported by larger domestic production, up 4% from January through April.
Global prices have softened but the value received has also been impacted by the exchange rate. It should be remembered that beef exports last year were impacted by markets that closed (South Korea, Taiwan, Peru, Indonesia, and Belarus) after the February 2015 BSE case.
From January to March 2016 Beef Exports reported as follows:
- Exports to the U.S. are up 7% in volume and down 3% in value, 77% of exports in year to date (YTD)
- Exports to Hong Kong were up 18.5% in volume and down 13.4% in value, 6% of exports YTD
- Exports to Japan were down 4% in volume and up 11.6% in value, 4.8% of exports YTD
- Exports to Mexico are down 42% in volume and 44% in value, 4% of exports YTD
- Exports to Mainland China were up 42% in volume and 50% in value, 3% of exports YTD
- Exports to South Korea have almost doubled at 1,022 tonnes, 1.3% of exports YTD. South Korea had closed in February and re-opened on December 31, 2015.
Source: MeatBusiness