CHINA

China regains top spot for New Zealand red meat exports in October

China regained its position as New Zealand’s largest red meat export market during October, according to an analysis from the Meat Industry Association (MIA).

Posted on Dec 20 ,00:15

Red meat exports for the month totalled $662 million, a seven per cent increase on the same month last year, including $170 million to China.

MIA chief executive Sirma Karapeeva said that while exports to China were down 10 per cent year-on-year, there were signs of green shoots, with indications that lamb prices had now bottomed out.

"Overall October exports were generally positive with increases to most major markets and an increase in value for both sheepmeat and beef.

"Compared to recent months, there was a smaller drop in the value of sheepmeat and beef exports to China.

"There was also positive growth in exports of chilled sheepmeat and beef, particularly chilled sheep meat to the European Union".

Sheepmeat exports to China were down by 16 per cent year-on-year to $$79 million and beef by 17 per cent to $56 million. There was a 28 per cent increase in the value of fifth quarter exports, to $35 million.

Exports to the US rose by 13 per cent to $145m and by three per cent to Canada to $34m. This was mainly due to an increase in beef exports to both these markets.

There was also an increase in overall exports to the UK and the major European markets, mainly due to growth in sheepmeat exports. There was a small drop in exports to Japan, down five per cent to $28 million.

Sheepmeat

The volume of sheepmeat exports was down three per cent compared to last October, to 25,071 tonnes but value was up three per cent to $267 million.

This was largely driven by an 18 per cent increase in chilled exports.

The main growth in both chilled and frozen sheepmeat exports was to the EU with volume up by 36 per cent to 4,921 tonnes and 51 per cent by value to $85 million. The majority of these were chilled, with 2,594 tonnes worth $46 million.

Beef

Beef volumes were up two per cent on last October to 26,908 tonnes but 10 per cent by value to $251 million. Frozen beef exports were at a similar level to last October but chilled exports grew 19 per cent by volume to 3,120 tonnes and 31 per cent by value to $55 million.

The major chilled market for the month was the US, up 64 per cent to $15 million, Japan, up 47 per cent to $13 million, China, down three per cent to $6 million, and the UAE, up 48 per cent to $3 million.

Fifth quarter

Fifth quarter exports increased 12 per cent to $144 million, largely due to a 96 per cent increase in the value of blood products to $29 million, and a 27 per cent increase in the value of hides and skins exports to $27 million.

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