May 20, 2009

New Zealand beef exports to North America were up 10 percent during April against the previous April to 39,870 tonnes swt, despite lower volumes to a number of key markets.

Exports of beef declined 17 percent to Japan (2,360 tonnes), 32 percent to Korea (2,966 tonnes) and 15 percent to South East Asia (3,684 tonnes) year-on-year as recessions continued to impact upon consumers' demand for beef.

At the same time, shipments of NZ beef to Canada (4,050 tonnes) and the US (19,996 tonnes) rose 212 percent and 15 percent, respectively. Although the NZ$ has depreciated significantly compared to a year ago (down 29 percent) and now buys 57US¢, the increase was mainly due to record supplies of NZ cow beef (cow beef production in March 2009 was 48 percent higher than a year earlier at 32,944 tonnes) as well as higher demand for grassfed manufacturing beef (as consumers seek cheaper forms of beef).