Australian beef exports to Russia were slow throughout July, reaching only 2,035 tonnes swt - down 50% year-on-year.
This was the smallest July beef exports to Russia since 2006 and an indication of the tough conditions being faced in the market.
For the first seven months of 2012, Australian shipments were down 32% year-on-year, totalling 23,018 tonnes swt.
Manufacturing beef exports recorded the largest fall in volumes, back almost 10-fold for the month to 136 tonnes swt.
Silverside/outside dominated shipments (41%), followed by blade (18%) and thick flank/knuckle (13%).
The ruble has depreciated significantly against the US dollar in recent months, averaging 14% lower year-on-year during July - effectively increasing the cost of importing beef into Russia.
Over the same time period, the Brazilian real has depreciated 23% against the US dollar, while the Australian dollar continues to trade above parity, giving Brazilian beef a significant currency advantage into the market.
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