Red meat exports to China were worth $232 million in May. Photo / Meat Industry Association
Red meat exports to China were worth $232 million in May. Photo / Meat Industry Association
North America remained New Zealand’s largest red meat market during May with beef and sheepmeat exports to nearly all major markets increasing year-on-year, according to an analysis by the Meat Industry Association.
New Zealand exported red meat products worth $1.1 billion for the month, 3% up on May2023.
The most significant growth was in beef exports, up 5% in volume and 9% in value.
Overall exports included $358 million to the United States, up 28%.
May was a record month for the value of beef exports to the US.
Meat Industry Association chief executive Sirma Karapeeva said it was encouraging to see some green shoots for the sector, supporting the Ministry for Primary Industries recently released Situation and Outlook for Primary Industries (SOPI) forecast that trade would see a strong recovery in 2025.
“While the China market is still soft, the ability to shift products to other markets such as the US means companies are continuing to extract the best value for product under the current global conditions.
“The industry’s strong focus on meeting critical market access requirements and customer needs remains key to keeping the door open for New Zealand to the world including the US market.
“The increased beef exports to Japan and the UK demonstrate the value of free trade agreements as reduced tariffs improve the competitiveness of our products.”
Meat Industry Association chief executive Sirma Karapeeva.
Sheepmeat
Sheepmeat exports totalled 39,232 tonnes, a small 1% drop on last May, with value down 5% to $387m.
This was mainly due to the decline in exports to China, down by 1% by volume to 15,499 tonnes and 49% by value to $84m.
This appears to be due to weak demand rather than an increase in supply from other exporters, as Australian sheepmeat exports to China have also been down over the last three months compared to last year.
Sheepmeat exports to most other major markets increased, compared to May 2023, with the US up 66% by volume to 3568 tonnes and 31% by value to $66m.
Exports to the UK continued to recover, up 40% by volume, to 5392 tonnes and 34% by value to $51m.
Exports to the EU were also strong, up 23% by volume to 7085 tonnes and 15% by value to $113m.
The US led the way with the highest free-on-board (FoB) value for sheepmeat at $18.39/kg.
This was followed by the EU at $15.95/kg, the UK at $9.44/kg and China at $5.43/kg.
While the volume of sheepmeat to China was significantly greater, the higher value achieved in the US saw the two markets relatively close, with China accounting for 22% of sheepmeat exports by value and the US 17%.
Beef
Beef exports totalled 55,498 tonnes worth $524m.
The US was the largest market for the month, with the volume up 17% to 24,929 tonnes and 31% by value to $261m.
Exports to Canada also continued to grow, up 177% to 2184 tonnes and 197% to $20m.
