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Business trends

Wagyu prices fall as Japan turns to crossbred beef after tax hike

Average wholesale price down 10% in December, bucking long-term trend

Price-conscious consumers in Japan have been moving toward crossbred beef from wagyu recently, but exports remain buoyant.

TOKYO -- Prices of Japan's prime quality wagyu beef are on a downward trend as consumers tighten their purse strings following the country's consumption tax rate hike in October.

Domestic demand has shifted to more affordable beef from crossbred cows while wagyu prices have been at record highs over recent years. But for now, wholesale prices are likely to remain low as wagyu shipments increase.

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