Aussie goatmeat exports up by 58%
Goatmeat exports from Australia are increasing, reaching a total of 6,450 tonnes (+58%) for the first quarter of the year, accordig to MLA data. The increasing volumes are being driven by strong global demand for more product in all key export markets including the United States, Korea, Taiwan, Canada, Trinidad and Tobago and Japan. South Korea is now Australia’s fastest growing goatmeat export market by value and volume, more than doubling its Australian goatmeat imports in 12 months. In Q1 this year, South Korea imported 843 swt of Australian goatmeat, a 114% increase on the 394 swt it imported in Q1 2021.
The value of exports to South Korea is expected to further increase under the Korea–Australia Free Trade Agreement (KAFTA), which will see import tariffs drop to 2.2% this year and 0% in 2023.
The United States remains Aussie's biggest market, importing 4,268 swt of Australian goatmeat in Q1 this year, representing a 50% increase on the 2,874 swt imported in Q1 2021. Taiwan is the third largest export market, taking 561 swt in Q1 this year, an increase of 63% on the Q1 2021 volume of 344 swt.
Exports to Canada increased 98% from 229 swt in Q1 2021 to 454 swt in Q1 2022, while exports to Trinidad and Tobago increased 92% from 99 swt in Q1 2021, to 190 swt in Q1 2022.
Data for Q2 to date shows total Australian goatmeat exports in April reached 1,933 swt, down from the March total of 2,511 swt, but higher compared to the April 2021 volume of 1,234 swt. Export prices has been trending upwards since the beginning of 2021, reaching a peak of AU$15.09/kilogram in January 2022. The tight Australian supply in the past years and the stabilisation of foodservice channels in major markets have created a need to meet consumer demand.
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