Red meat exports up 27 percent

A109 Light Utility Helicopter flight with mayor Gisborne City from the air in November 2023.

THE value of New Zealand's red meat sector exports reached $693 million during October, a 27 percent increase year-on-year, according to an analysis by the Meat Industry Association (MIA).

Sheepmeat was a standout performer with the value increasing by 25 percent to $309m.

The major sheepmeat markets by value were China, up 25 percent to $131m, the United States, up 54 percent to $46m, and the Netherlands, up 94 percent to $29m.

Sirma Karapeeva, chief executive of MIA, said a mixture of supply constraints and good demand in key markets had contributed to the high sheepmeat prices.

“These factors included Brexit-related issues and Australia rebuilding its sheep flock.

“The average Free on Board (FOB) value for sheepmeat exports for the quarter was $12.52/kg,” said Ms Karapeeva.

“This was a record level and the first time that the average monthly FOB value has been above $12/kg.

“Value growth in our key global markets was across the board, with beef up 28 percent to $231m and co-products increasing by 30 percent to $153m,” she said.

Overall, the value of China's imports of New Zealand red meat was up 34 percent to $262m, the United States by 47 percent to $138m, Japan by 29 percent to $31m and the Netherlands by 76 percent to $30m.

UK sheepmeat exports to the EU have been affected by Brexit, said Ms Karapeeva.

“Most of the United Kingdom's sheepmeat exports — around 90 percent — normally go to the 27 European Union countries but its exports to that market are down 24 percent so far this year.”