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Japs Set U.S. Beef Import Levels

Mike

Well-known member
USDA Attache: Japan Sets 2007 Beef Import Levels



Japan’s Ministry of Agriculture, Forestry, and Fisheries has set the level of beef imports in fiscal year 2007 -- at the same level as fiscal year 2006 -- that will trigger additional duties under Japan’s ’beef safeguard,’ according to a U.S. Department of Agriculture attache report posted Thursday on the Foreign Agricultural Services Web site.



The beef safeguard set for Japan Fiscal Year (JFY) 2006 was initially only meant to last one year and resulted from contentious talks between Japan and its two largest beef suppliers, the United States and Australia. However, shrinking beef supplies, reduced beef consumption, and high prices for domestic beef persist and MAFF recommended a simple extension of the existing formula for calculating the safeguard trigger level. Pending almost certain approval by the Diet, the measure will go into effect in April 2007.



Because imports are down this fiscal year due to an earlier ban and ongoing restrictions on U.S. beef, a low JFY 2007 safeguard trigger was possible under a strict reading of Japan’s WTO commitments. Japan’s closing of the beef market to the United States from January to July this year, coupled with a continued ban on U.S. beef over 21 months, are primary factors in the reduced beef supply.



On preliminary basis, the trigger levels for the first quarter of JFY 2007 (April 07 - June 07) were calculated at 74,339 MT for chilled beef. The volume is 9,888 MT larger compared to the level calculated under the ordinary method. For frozen beef the previous fiscal year imports are used as a basis for calculating the 78,475 MT trigger point (because it produces a larger number than a calculation based on a 2002-2003 average.



For second quarter of JFY 2007 (April 07 - Sept. 07 - quarterly cumulative), the trigger levels are calculated at 152,455 MT for chilled beef, the volume is larger by 22,195 MT above the level based on the ordinary method and for frozen beef at 160,040 MT, which is also larger by 18,742 MT compared to the level based on the ordinary method.



Source: Angie Pointer Dow Jones Newswires 312-750-4075 [email protected]
 
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