With Wagyu beef removed from sale in Japan and exports banned, AACo is already enjoying a sharp jump in orders to US and Korean customers whose supply lines to Tokyo have been cut off.

"Wagyu is seeing increased prices and market opportunities because of foot and mouth disease (FMD) in Japan," managing director David Farley told last week's annual general meeting, pointing to an 18 per cent price jump that week.

He said AACo sales orders to Japan had not shown much new activity yet, but this was likely to follow.

Japanese authorities may have to slaughter more than 200,000 infected Wagyu cattle because of the FMD outbreak.

AACo is guarded about its exact Wagyu cattle numbers, but is recognised as running about half of the total Australian herd.

Just back from the Europe, Mr Farley observed that even in financially troubled Britain, Wagyu steaks - prized for their tender marbled texture and rich flavour - were selling at Harrods for 198 pounds stirling a kilogram.

Similar quality Wagyu cuts sell for about $90/kg in Australia, but the best markets for the Rolls Royce of beef tend to be overseas.

AACo intends to expand its own production and export efforts considerably, a move which prompted fellow large scale Wagyu producer and Queensland cattleman, Peter Hughes, to depart the AACo board last week because of a possible conflict of business interests.

He too wants to increase his herd numbers.

As part of a plan to make its business more vertically integrated, AACo's wants to lift its Wagyu and mainstream beef exports as it moves to revive its profits and shareholder confidence.

Its export strategy includes developing new live export destinations in Indonesia and Malaysia, and also grow its herd to one million head.

Mr Farley said global markets would require 40 per cent more food in the next 10 years and beef production needed to double before 2050 to keep pace with demand.

He said global cattle supplies were down, with the US herd at its lowest point since 1947, squeezed by the ethanol energy industry's thirst for more land to grow corn and soybeans.

In the next five years US beef exports were predicted to contract by 140 million tonnes, while Australia was likely to increase overseas sales by 220m tonnes (and Brazil by 470m).

Although looking at developing its own processing operations, AACo has yet to identify when or where it will establish its own meatworks.