April 20, 2012

New Zealand's beef exports steady for March

New Zealand's beef exports remained steady for the first quarter of 2012, with a 1% on-year at 97,326 tonnes.

The US remained the largest export destination for New Zealand's beef, jumping 9% on the March quarter 2011, to 46,850 tonnes, and increasing its share of exports to 48%. Shipments to South East Asia, the second largest region (11% of beef exports), increased 4% over the same period, to 9,859 tonnes, with the majority of this exported in March.

Exports to Korea fell 33% year-on-year, to 7,597 tonnes, while Japanese shipments fell 14%, to 7,434 tonnes, each taking 8% of the first quarter beef shipments. The strong NZD and high beef stocks in Korea were important reasons for these falls.