October 13, 2015
Strong, record-setting performance for New Zealand's beef in 2014-15
Robust demand for New Zealand's beef had propelled the meat's export revenues to record during the 2014-15 season ending on September 2015, overtaking returns for lamb and mutton and thereby, causing a reversal of meat export trends for the first time in two decades.
Tight sheep meat supplies also contribute to the recent development, according to Beef + Lamb New Zealand's Economic Service.
Furthermore, New Zealand established a milestone for beef shipment values, with deliveries breaching past $6000 per tonne for the first time in 35 years. An additional revenue of about 25% was gained from an average value of $7,510 from each tonne shipped, compared to $5,970 in the 2013-14 season.
Rising from the previous season, beef and veal brought in more than $3.1 billion in earnings, close to a 39% increase, while international deliveries ascended by 10.2%, to a volume of 421,700 tonnes.
Backed by strong beef prices, exports are in good demand from the US as beef output in New Zealand expanded significantly in 2014-15. The North American market accounted for a 22% rise in beef deliveries and North Asia at a positive 7%. The US and China set the bellwether for export growths in both regions, respectively.
Meanwhile, exports for lamb declined by 2% and mutton down by close to 9% compared to the previous season. Following a positive performance for the past five years, New Zealand's lamb exports to North Asia took a hit, with a 12% slid. Mutton deliveries to the region also fell, by 23% from the last season.