Strong demand for Australian red meat continues in US

Published 2024년 6월 6일

Tridge summary

In May, Australia saw a peak in its agricultural exports, with lamb, mutton, and beef exports reaching record numbers for a single month. Lamb exports hit an all-time high of 36,703 tonnes, with the United States, China, and the MENA region as the primary markets. Mutton exports also saw an 11% increase to 21,664 tonnes, dominated by China, but with significant growth in the MENA region. Beef exports surged by 25% to 113,923 tonnes, driven by a 74% increase in exports to the United States, and a rise in demand from Japan and Korea due to decreased imports from those countries' traditional suppliers. Goat exports, while not reaching the record high of April, were the second highest on record at 4,682 tonnes, largely due to a doubling of exports to the United States and an 80% increase to South Korea. These strong export performances are expected to bolster Australia's market share in both traditional and emerging markets.

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

Original content

Lamb During May, 36,703 tonnes of lamb were exported, which is the highest lamb export on record for a single month. The United States (US) continues to be the largest market for Australian lamb, followed by China and the Middle East and North Africa (MENA) region. The increase in total export volume has led to a diversification in markets. For example, exports to Iraq have increased fivefold from last year to 1,386 tonnes, becoming Australia’s eighth largest lamb market in May. As Australian exports maintain a strong pace, it will present opportunities to develop market share both in Australia’s traditional key markets and emerging markets. Mutton Australian exports of mutton rose 11% year-on-year to 21,664 tonnes, the largest single month figure since November 2019. China was the largest market for the month, though exports fell 38% year-on-year to 5,363 tonnes. Most of the export growth came from markets in MENA; Exports to Saudi Arabia doubled to 1,950 tonnes, exports to Oman ...

Source: Mla