Drop in dollar helps beef exports hit record $3 billion

The beef export season runs from October 1 to September 30. Photo / Christine Cornege

Beef exports have hit $3 billion - a record high, driven by international shortages, rising local production, and a falling New Zealand dollar, Statistics NZ said.

Beef exports continued to rise, up 46 per cent ($61 million) in August 2015 compared with the same month last year. The beef export season runs from October 1 to September 30.

"With one month to go in the 2014/15 beef export season, beef exports are at a new high of $3 billion," international statistics senior manager Jason Attewell said.

"So far this season, 404,000 tonnes of beef have been exported, and if we export at least 18,000 tonnes next month we'll surpass the peak 2003/04 season for quantity exported," he said.

The United States remained New Zealand's top beef export destination this season, for both value and quantity.

Beef export values to the US have hit a record high of $1.6 billion (up 64 per cent) for the season to date, with quantities up 21 per cent compared with this time last year.

Beef export values to China continued to increase, up 88 per cent for the season to date, to $394 million, with quantities up 52 per cent compared with this time last year.