Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Australian Beef Enjoys Russian Boom

SYDNEY -- Australian meat exports to Russia are booming, with beef sales last year as big as those to the entire European Union.

The Australian government's trade commission, Austrade, said in a statement that the value of beef exports to Russia had almost quadrupled in the past year.

"The trends show that it is no flash in the pan," said Tim Harcourt, Austrade's chief economist.

Australian exports of beef to Russia jumped to 12,512 tons in 2006, from just 510 tons the year before, figures from industry marketing organization Meat & Livestock Australia show.

In value terms, exports rose to 62 million Australian dollars ($48 million) in 2006 from A$12.7 million the year before, according to Austrade figures. The value of non-beef exports to Russia rose to A$105.7 million in 2006 from A$72.2 million the year before.