The wholesale price of imported U.S. beef is going up. Frozen short-plate parts are traded at around 800 yen per kilogram, up 3% from a month before, driven by brisk demand both in and outside Japan.
In Japan, short-plate beef is in high demand among restaurant operators. In China, demand also remains strong through December, though orders for the lunar New Year holidays next February have completed. U.S. export prices of Japan-bound beef are sent higher.
“Beef demand in China is not a temporary fad and it is becoming steady,” said a person with a beef trading section at Sojitz Corporation. “There won’t be a drastic drop in prices.” (Abridged)