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.
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.
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