Key news for Canada's beef sector as Japan reopens its doors to Canadian processed beef for the first time in twenty years.
The federal government announced the move, noting this removes the last trade barrier that Japan put in place on Canadian beef after our discovery of BSE in May of 2003.
Canadian Cattle Association (CCA) President Nathan Phinney is pleased to see the full restoration of market access to Japan - Canada's second-largest export market for beef.
According to the CCA in 2022, the beef industry exported $518 million in beef and beef products, an increase of 18.4 per cent compared to 2021.
The value of beef in Japan has increased 15 per cent going from $6.74/kg in 2020 to $7.76/kg in 2022.
Ottawa says under CPTPP, Japan’s 38.5% tariff on beef imports will decrease to 23.35% by April 1, 2023, and will go down to 9% by 2033.
Tariffs on further processed beef products will be reduced even more and in some cases eliminated altogether.
The CCA notes that Japan, and the Indo-Pacific region, hold the greatest potential for beef export diversification.
The executive vice-president of the CCA Dennis Laycraft says the Japanese market over the last few years has really grown into our second largest export market after the United States.
He notes it's one of the highest-value markets and one of the most stable markets in the world for us.
To hear Glenda-Lee's discussion with CCA's executive vice-president Dennis Laycraft click on the link below.