Corona Gyu

The wagyu market tumbles without the demand from clients and the added number of diminishing clients in restaurants. The beef market is under pressure and prices are hovering below normal levels for tenderloin and sirloin. The major of Tokyo Koike san has asked residents to stay away from bars and restaurants, mostly to reduce and suppress cross-infection. This has had a tremendous impact on business and many restaurants are almost empty.

With people increasingly practicing social distancing, fewer groups of coworkers are going out to celebrate achievements and milestones and fewer people are hosting get-togethers.

The price tag of wagyu is under politcal pressure and Liberal Democratic Party is suggesting vouchers for beef to give a boost to sales. The Japanese are very conscious of their national trademarks and do whatever it takes to preserve their territory.

These vouchers can be exchanged for goods that are seriously being considered. If Japanese people are given a direct stimulus payment they might choose to simply pocket the yen. Japanese are funny in economic hard times, probably a wartime mentality to preserve their savings in case it gets harder out there.

Categories: Wines