Chilled beef to Japan, Korea and Taiwan continues to drive export growth Japan continued to solidify its position as the leading volume and value market for U.S. beef

Chilled beef to Japan, Korea and Taiwan continues to drive export growth Japan continued to solidify its position as the leading volume and value market for U.S. beef, with February exports climbing 48 percent from a year ago in volume (23,789 mt) and 55 percent in value ($134.3 million). Through February, exports to Japan were up 41 percent in volume (46,276 mt) and 44 percent in value ($259.6 million). This included a 60 percent increase in chilled beef volume to 19,404 mt. Japanese import data showed that U.S. beef overtook Australian beef in the first two months of the year, with U.S. market share climbing to 45.6 percent while Australia’s dropped to 44 percent.  Strong momentum continued for U.S. beef in Korea, where February exports increased 11 percent to 13,093 mt valued at $86 million (up 26 percent). This pushed the two-month totals up 23 percent in volume (28,287 mt) and 31 percent in value ($177.6 million). Chilled exports through February were up 95 percent to 5,384 mt.In Taiwan, February exports jumped 33 percent from a year ago to 2,886 mt, while value increased 26 percent to $25.3 million. Through February, exports were up 28 percent in volume (6,477 mt) and 25 percent in value ($55.1 million). U.S. beef holds 70 percent of the chilled beef market in Taiwan, the highest of any Asian market. Through February, chilled exports to Taiwan increased 12 percent to 2,479 mt. Other highlights for U.S. beef included:  Exports within North America are off to a solid start in 2017, with January-February exports to Mexico increasing 14 percent from a year ago in volume (36,235 mt) and 3 percent in value ($147.4 million). Exports to Canada are showing signs of a rebound, with volume up 11 percent to 19,446 mt and value up 18 percent to $123.5 million. Beef exports to two key South American markets increased significantly in value through February, with exports to Chile up 22 percent year-over-year to $8.9 million and exports to Peru up 68 percent to $4.3 million. The increase in Chile was achieved despite a 16 percent decline in volume (1,417 mt) while volume to Peru was up 16 percent to 1,130 mt. A rebound in the Philippines and continued growth in Vietnam pushed January-February beef exports to the ASEAN region up 33 percent in volume (4,774 mt) and 19 percent in value ($27.3 million). Exports to Indonesia, which set a value record of $39.4 million last year, are off to a slow start in 2017 with value through February down 48 percent to $3.5 million. Strong growth to most Asian markets helped offset a slowdown to Hong Kong, where January-February volume was down 21 percent to 16,131 mt, valued at $104.7 million (down 12 percent).