New Zealand: Red meat exports 13% better in 2022

A 9% drop in global red meat prices in December took the edge off NZ export receipts for 2022, but they were still 13% higher than the previous year at $11.4 billion. An analysis by the Meat Industry Association (MIA) reveals December’s 9% drop in export receipts was driven by a 19% decline from sheepmeat, to $338 million, a 15% fall in beef, to $428m, and fifth-quarter products falling 9% to $200m. The largest drop in dollar terms was from the Chinese market, with December 2022 exports down by 21% to $357.6m, while the United Kingdom dropped 53% to $25.8m. MIA chief executive Sirma Karapeeva said global inflation eroded demand and prices as consumer purchasing power declined. “Some consumers in our key markets are trading down to cheaper proteins and dining out less in restaurants,” she said. “For beef, we are seeing record imports of beef into China from Brazil. “The relaxation of China’s covid-19 policy has also created some uncertainty in the market.” China remains New ...