Wagyu carves path through pandemic
When the COVID-19 pandemic hit last year and restaurants closed around the world, producers of Wagyu beef feared the worst.
"The whole Wagyu sector breathed in for that period, but since then it's really been a remarkable recovery."
Mr McDonagh said demand for Australian Wagyu was now growing faster than producers' ability to supply it.
"We have seen a consistent 20 per cent year-on-year growth in production, but the demand for the product is growing ahead of that rate," he said.
"Our recent estimates are the growth of Wagyu demand is about 30 per cent annually in global markets."
"Overnight we lost all air-travel, the ability to shift Wagyu around [the globe] become tough and we lost 100 per cent of that luxury restaurant sector immediately," said Matt McDonagh, CEO of the Australian Wagyu Association.
- The Australian Wagyu Association says Wagyu beef demand is rising 30 per cent per annum
- Producers say domestic sales have increased during the pandemic
- The company that runs Australia's largest Wagyu cattle herd says its average meat price is up 8 per cent