Exports of Australian beef increased by 28% to A$3.34bn (US$2.58bn) for the year to 30 September, boosted by heightened demand from Japan and Korea.
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The two Asian countries increased shipments of Australian beef after banning imports from the US following the discovery of a case of mad cow disease in Washington state last December.
Australian beef exports were just 2% lower than the record of $3.39bn, set in 2001, reported Reuters.
Exports of beef and veal to Japan rose 61% to $1.64bn, while exports to the US increased 11% to $1.03bn.
