Friday, March 29, 2024

Red meat exports worth $8.8b

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The value of New Zealand’s red meat exports has played against the odds given the global drive against eating meat to save the planet.
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The latest Meat Industry Association figures reveal exports of beef and sheep co-products increased by 8% to $8.8 billion for the year to June 30.

Almost 400,000 tonnes of sheep meat, similar to 2018 volumes, was sold but the value increased by 6%.

Beef export volumes were up by 9% to 450,000 tonnes with a 13% increase in value. Co-products exports increased by 5%. 

Beef exports to China increased to 25,000 tonnes, more than the annual exports to Taiwan, Japan or Korea.

The volume of beef exports to Japan also increased, by 10%, against the same time last year. 

For the first half of this year since the Comprehensive and Progressive Trans Pacific Partnership came into force, exports to Japan are up 29% by volume compared to the first half of last year.

While the overall volume of sheep meat was down for the month compared to last year, including exports to China, the value of exports to China still increased by 20%. 

China remains the largest market by value for red meat and co-products with $319 million exported to the country in June, followed by the United States and Britain.

Association chief executive Tim Ritchie said China has again been the lead performer in the past 12 months.

“China has taken more than half of NZ’s sheep meat exports and beef exports have increased by 79% by volume, overtaking the US as our largest beef market.

“It’s also very pleasing to see we’re getting more bang for our buck off sheep meat exports with value up 6% on last year despite volumes remaining the same.”

The weaker British market in the past 12 months, with overall value down by 11%, reflects continuing uncertainty over Brexit, Ritchie said.

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