April 12, 2013

New Zealand's beef exports up 43% in March

New Zealand's total beef and veal exports reached 50,376 tonnes swt in March, up 43% on-year, and 34% on the five-year average.

The US remained the largest market for New Zealand beef, receiving more than half (27,272 tonnes swt) of New Zealand's total shipments, and up 58% on-year. While New Zealand continues to suffer one of the longest droughts in recorded history, the drought induced slaughter has placed New Zealand with a significant price advantage over Australia in the US.

Similar to Australia, the demand for New Zealand beef in China continues to boom, with New Zealand shipping the greatest volume on record during March, at 6,539 tonnes swt, comprising mostly of frozen bone-in and boneless cuts. As a result of the drought driven surplus in beef production, the substantial increases to China are encouraging for New Zealand exporters as alternate outlets to offset additional product.

The EU remains a key market for mainly frozen boneless cuts, where 1,614 tonnes swt were exported in March, up 14% on-year. Japan and Korea also continue to be steady markets, with Japan receiving 2,923 tonnes swt and Korea 2,773 tonnes swt, each up 2% on-year.