July 13, 2007

New Zealand's June beef exports fall in major markets

Beef and veal exports from New Zealand (NZ) in June dropped by 21 percent on-year to 33,535 tonnes slaughterweight (swt) due to decreased shipments to the US, Japan, Korea and Taiwan, figures from the New Zealand Meat Board show.

Total exports for 2006/07, however, remained steady from the previous year, at 375,204 tonnes swt.

June's beef exports to US fell 27 percent on 2006, to 16,544 tonnes swt due to reports that trading in the US imported beef has been sluggish over the month. The strengthening dollar has imported beef prices higher in US dollar currency but lower in New Zealand dollar terms. The currency broke through the 77 US cents barrier in end-June.

Though the country is confident on the North American markets particularly on the rising US beef prices, it will still hurdle the level of exports from Uruguay, possible market access for Argentina and allowance of Canadian cattle and boxed beef from animals 30 months of age.

Canada's beef imports from New Zealand for the month jumped 33 percent, to 3,133 tonnes swt, although shipments for the past twelve months were back 15 percent.

Shipments to both Japan and Korea also dropped in June with exports to Japan sliding by 29 percent on June 2006, to 3,232 tonnes swt. South Korean shipments tumbled by 43 percent on the same period last year to 2,754 tonnes swt but its exports for 2006/07 jumped to 7 percent to 43, 854 tonnes slaughterweight (swt).