April 21, 2008

New Zealand's beef exports fall 13 percent as major markets cut demand
 

New Zealand (NZ) beef and veal exports slipped during March as domestic supplies remained tight, according to the Meat and Livestock Australia.

Consignments fell 13 percent on the same time last year, to 37,374 tonnes swt, due to a fall in shipments to the US, Japan and Korea, according to the New Zealand Meat Board.

Increased exports the EU failed to offset the decline in major markets.

Shipments to the US fell 9 percent on March 2007, to 18,019 tonnes swt, due to limited NZ supplies and a seasonal increase in the US domestic cow slaughter.

The US imported beef market may continue to remain quiet as importers were reluctant to pay higher prices for NZ beef.

Exports to Japan were also down 22 percent, at 2,849 tonnes swt, compared with the same time last year.

NZ exports to the EU continue to increase significantly as the region continued to restrict Brazilian beef. Export volumes in March jumped 117 percent on 2007, to 1,234 tonnes swt.