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Agriculture

Wagyu beef's wholesale price falls to 4-year low as consumption slows

Exports to Asia, Europe and U.S. boom as farmers seek stable demand

Wagyu prices are slumping due mainly to feeble demand, but are still high for most consumers. (Photo by Hisashi Tsusui)

TOKYO -- Wholesale prices of wagyu beef in Japan have fallen to the lowest level since June 2020 when demand for meat from the Japanese cattle breeds slumped amid the COVID-19 pandemic.

With prices showing no signs of a rebound, farmers -- already tormented by rising costs -- are finding themselves deeper in the doldrums.

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