JAPANESE WAGYU-BEEF PRICES FALL DUE TO TAX HIKE

Highlights:

• Japan raised its consumption tax in October 2019
• January 2020 recorded a price reduction by 9 per cent as compared to 2019

Wagyu beef is considered prime quality cut in Japan. The consumption tax hike in October saw a resultant decrease in the price of the prime beef. This was because consumers shifted to affordable crossbred beef and sales for the elite beef reduced d....