Lamb exports in New Zealand up 12 percent in August on the previous year

Published 2020년 10월 11일

Tridge summary

In August, New Zealand saw a 12% increase in lamb exports, totaling over 2000 tonnes to Britain, despite the ongoing Brexit situation. This surge was attributed to a decline in exports to China and a rise in demand from Europe, the Netherlands, and Germany. Despite the increased export value, local farmers experienced a decrease in lamb prices, largely due to reduced demand from restaurants and hotels because of the COVID-19 pandemic. Extreme weather conditions, including drought and storms, have also impacted lamb production. The Meat Industry Association expresses concerns over the potential splitting of World Trade Organisation tariff rate quotas following Brexit, citing the red meat sector's success in adjusting to market changes as evidence of the importance of flexibility. Additionally, there was a notable 85% increase in beef exports to the United States in August, reaching a value of $80 million, despite a drop in exports to China.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Lamb exports rose 12 per cent in August compared to a year ago, but farmers have less in their pockets. The value of the exports was up 5 per cent, from $177.5 million last year to $186.7m in 2020, according to the Meat Industry Association. A bump in exports to Britain and the European Union offset a reduction in the value of sheepmeat exports to Chinawhich was down 13 per cent for the same period. Association chief executive Sirma Karapeeva said more than 2000 tonnes of sheepmeat was exported to Britain in August. The value of the exports was up 43 per cent to $20m, despite the approach of Brexit. Exports to the Netherlands were up 80 per cent, and Germany 30 per cent, with sales to France and Belgium also increasing, she said. Karapeeva said the jump in exports was due in part to the time of year, as British production began to peter out in August and the majority of British lamb went to Europe. Some exports that would have been destined for China had been diverted. However, a ...

Source: Stuff NZ