November 4, 2024

 

New Zealand's red meat exports down 8% year-on-year in value in September

 

 

Relatively subdued export returns for New Zealand red meat in September reflect the complex dynamics of the global meat trade.

 

The country's red meat sector exported products worth $564 million during the month, down 8% from September 2023, with lower production levels affecting volume.

 

The United States was the largest export market at $143 million, down 5%, followed by China, which dropped 41% year-on-year to $106 million.

 

Meat Industry Association chief executive Sirma Karapeeva said there was demand for New Zealand red meat, but lower production levels affected export returns.

 

"The most noticeable trend for the month and the third quarter was the drop in the volume of exports compared to last year," she said. "This appears to be largely due to a drop in production over recent months. There has been less meat produced and available for export."

 

Karapeeva said in general, there was still demand except perhaps in China, but supplies had been constrained in recent months.

 

"Between January and May, beef production was up 4% on the same period last year and sheepmeat production was up 6%," she noted. "However, between June and August, both beef and sheepmeat production were down by 24%."

 

Karapeeva said the opportunity to target a large range of markets and those with strong demand helped companies to mitigate fluctuations.

 

There were increases in both sheep and beef exports to Canada, up 71% to $40 million, to the Netherlands up 48% to $30 million, and to the United Kingdom, which grew 51% to $25 million.

 

While beef exports to the US fell 4% by volume in September to 8244 tonnes, the value increased 15% to $90 million.

 

The average value of New Zealand red meat exports to the US also grew from $9.14/kg to $10.92/kg.

 

Beef export volumes were down 9% for the month to 28,149 tonnes, and by 19% for the quarter to 94,807 tonnes.

 

Export values fell by 2% for September to $252 million and 12% for the quarter to $868 million.

 

Fifth-quarter exports were worth $130 million in September, down by 19% year-on-year.

 

There was a 52% drop in the value of fifth-quarter exports to the US to $16 million.

- The Country