MIA: Red meat exports down for August but year-to-date in line with 2023
The United States was again the largest market during August, with an increase of seven per cent year-on-year to $198 million.
The average value of exports also increased compared to last August with the free on board (FoB) per kilo value of sheepmeat up by eight per cent to $10.12/kg and beef by 14 per cent to $9.32/kg.
Sirma Karapeeva, Meat Industry Association (MIA) chief executive, said the increase for sheepmeat was largely driven by higher values achieved for exports to markets outside of New Zealand’s major destinations, although there was also a 2.1 per cent increase to the European Union.
"This highlights the importance of the diverse export market strategy of our sector. On the other hand, for beef it was mainly due to an increase in the value of exports to our largest beef market, the US, where the average value was up 25 per cent to $10.67/kg.
"Overall, volumes for sheepmeat exports from January to August this year are almost the same as the same period last year, while beef exports are down by five per cent".
Exports to China continued to reflect that country’s current economic challenges, down 50 per cent to $107 million. Canada was down three per cent to $38 million and Japan by 15 per cent to $29 million.
There was a very significant rise in exports to Singapore, rising 359 per cent to $19 million.
Sheepmeat volumes for the month were down by 33 per cent to 16,803 tonnes and beef down 25 per cent to 30,688 tonnes.
The value of sheepmeat exports was down by 27 per cent to $170 million and beef by 15 per cent to $286 million.
Fifth quarter exports fell by two per cent to $152 million. Tallow exports, mainly used in bio fuel manufacturing, saw a 160 per cent increase in value to $27 million.
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