According to a report from Alberta Farmer, Canadian beef exports from January to June were valued at $1.8 billion, up 24% from the same value in 2018. The total volume came to 279,705 tons of beef, up 14.5% from the volume reported this time last year.
Broken down by country, Canada was up in many important export markets. Beef exports to the U.S. were up by 18%, as well as exports to Japan (up 59%), Mexico (up 12.4%) and China (up 207%). Alberta Farmer also reports, however, that China had “effectively stopped buying Canadian beef in June.” Canadian exports to Hong Kong for the first half of the year were reported at down 8.8%.
Canadian beef imports from January to August were down by 16% with a total volume of 123,114 tons.
The increase in Canadian beef exports to Japan follows a trade deal between the U.S. and Japan that will lower tariffs on U.S. beef exports to Japan by 29.5% by 2033. China also recently saw a rise in U.S. beef imports, up 4.9% in June of this year.