Australian red meat industry reports a 13% increase in its exports
Analysts at MLA said the increase was mainly based on a rise in cattle turn-off and higher smallstock prices.
Beef export value failed to surpass the drought years of 2014–2016 but was the third highest financial year on record at AU$7.96 billion. With lamb prices smashing records in recent months, lamb exports reached a record AU$2.27 billion, and mutton followed suit at A$1.02 billion.
MLA said combined sheep and beef offal exports broke records at AU$778 million while live cattle and sheep exports accounted for significant portions, at AU$1.268 million and A$259 million respectively.
Australia's main importers of beef were Japan, the US, Korea and China. All four countries accounted for a staggering 75% of export value.
Meanwhile, the Middle East and North Africa (MENA), the US and China accounted for 66% of Australia's sheepmeat export value.
On the other hand, countries in Southeast Asia were the main importers of Australian live cattle. MLA said this reflected the level of development across key markets and proximity to northern Australia.
The country's sheep exports remained concentrated in MENA, underpinned by demand for religious slaughter.
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