Beef Bowl Costs Rise as Japan Imports Priciest Since Mad Cow
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The cost of U.S. beef for Japanese meat eaters doubled in the past year to the highest in a decade, eroding earnings as the yen weakened and global prices soared.
The wholesale price of frozen short-plate, the meat used for beef bowls in Japanese fast-food restaurants such as Yoshinoya Holdings Co., rose to 1,081 yen ($9.36) a kilogram last month from 555 yen a year ago, according to Tokyo-based Agriculture & Livestock Industries Corp. It’s the highest since 2004, after Japan banned American beef imports because of mad-cow disease.