NZ red meat exports hit $1.1b in February, driven by US and EU markets

New Zealand red meat exports grew in February. Photo / Meat Industry Association

The Meat Industry Association says New Zealand’s red meat sector recorded another strong month in February, with exports reaching $1.1 billion - a 25% increase compared to February 2024.

The United States was the largest export market, increasing by 32% to $339 million, while China rose 5% to $278m.

And the European Union also experienced significant growth, with beef and sheep meat exports rising.

Meat Industry Association chief executive Sirma Karapeeva said the latest figures reflected a continued recovery in global demand.

“While export volumes saw only small changes, the value of exports rose significantly compared to last year.

“The New Zealand red meat sector remains agile, responding swiftly to market fluctuations to maximise value.”

Exports to the EU saw strong growth, with sheep meat volumes rising 42% to 8579 tonnes and the value increasing 84% to $152m.

This was the highest volume of exports to the EU in February since 2019 and the first time monthly sheep meat exports to the EU had exceeded $150m since 2009.

This reflects a general increase in the global demand for sheep meat and tight in-market inventories in the EU.

There was also a further recovery in sheep meat exports to China, while beef exports to Canada and the US increased.

For the first time, beef exports to the US exceeded $250m in a single month.

Other key markets also performed strongly.

Exports to the Netherlands increased by 45% to $57m, while the United Kingdom saw a 42% rise to $54m.

Japan also experienced growth, with exports rising by 16% to $53m.

Sheep meat

Sheep meat exports in February increased by 4% in volume to 41,792 tonnes, while the value climbed 35% to $473m.

Volumes to China rose by 9% to 19,733 tonnes, with the value increasing by 40% to $133m.

The volume of exports to the UK declined slightly by 2%, but the value grew by 37% to $40 million.

The US was the only major market where sheep meat exports decreased, falling 36% in volume to 2646 tonnes and 5% in value to $62m.

Beef

Beef export volumes were down 5% to 44,786 tonnes, but the value rose 23% to $486m, primarily driven by strong demand in North America.

Exports to the US increased by 15% in volume to 21,308 tonnes and 58% in value to $251m.

Canada also saw a significant rise, with volumes up 30% to 2140 tonnes and the value jumping 77% to $24m.

While beef exports to China declined due to continued competition from South American suppliers, particularly Brazil, there was an increase to other North Asian markets.

There was an increase in beef exports to Japan, where the value rose by 24% to $33m, and to South Korea, where it climbed 49% to $15m.

Fifth quarter

The value of fifth quarter (co-products) exports also grew, rising 7% to $169m for the month.

Edible offals increased by 30% to $40m, while casings and tripe rose 31% to $36m.

Prepared and preserved meat products also saw growth, increasing by 19% to $22m.

China remained the largest market for these products at $54m, followed by the US at $26m and Australia at $18m.