October 3, 2023

Beef made up nearly half of New Zealand meat industry's export revenue in 2022-23 financial year

New Zealand's meat industry earned $10.8 billion in export revenue during the 2022-23 financial year, to which beef contributed 43%.

Industry revenue fell by 1% from the prior year to June 30, 2022, according to the Meat Industry Association (MIA) annual report published in September.

North Asian markets generated just under half of the export revenue, at $5.3 billion – half of it from beef. China accounted for $4.23 billion, which was 39% of the total.

North American markets paid $2.6 billion and 57% was from beef.

The MIA annual report said revenue was strong during the first half of the financial year (the third and fourth quarters of 2022) and dropped away by $1/kg for beef and $1.20 for sheep in the second half (January to June 2023).

Beef export volume increased by 3% while value went down by 1% and China was the largest beef market at $2billion.
 

- Farmers Weekly