New Zealand lamb flap prices rose to their highest level in a year, driven by increased demand from China where the meat is used in traditional hotpot dishes.
Lamb flap prices rose to US$4.40 per kilogram in June, up from US$4.05/kg in May and the highest level since the firstweek of June last year, according to AgriHQ's latest monthly sheep & beef report.
Chinese demand for lamb flaps has helped turn the offcut into a premium cut and lifted the overall return Kiwi farmers can get from their animals.
The meat is processed into a lamb roll and sliced thinly for hotpot, the dominant cooking style for lamb and a staple of the Chinese national diet.
"The market which has been the most positive is China," AgriHQ analyst Reece Brick said. "There is plenty of demand for protein across the country, and this has been reflected in flap prices gradually rising. However some market participants believe prices are nearing an equilibrium, which will limit further increases as the season progresses."
