Sheepmeat exports in October 2020 dropped by 25% while beef exports fell by 14% in value compared to October 2019.
Co-products declined by 8%.
The value of red meat exports and co-products to the United Kingdom in October 2020 dropped by 16% compared to a year earlier, but the value of exports to the United States increased by 15%.
MIA chief executive Sirma Karapeeva says the fall was mainly into China (down 36% to $195 million) and reflects the high prices NZ red meat was commanding last year.
“In October 2019, NZ was sending record volumes of meat to China due to African Swine Fever decimating the Chinese pig herd. While the value of exports this October was down compared to last year, it was still higher than all other October monthly exports in recent years,” she said.
“This latest data illustrates the volatility of our global markets and shows why it’s more important than ever to maintain our market diversification strategy.
“Covid-19 continues to severely disrupt our markets and key channels such as the food service sector and we expect this to continue through to 2021. The situation is also compounded by congestion issues at ports and the appreciation of the NZ dollar.”
The analysis also shows a significant increase in exports to Singapore in October. This was mainly due to an increase in tallow exports to Singapore where the co-product is used to produce biodiesel.
