Australia: Where to for goatmeat prices?

Published 2023년 3월 7일

Tridge summary

The Australian goat meat industry is benefiting from a decrease in goat prices, which has allowed for increased export activity to markets such as Japan, the Caribbean, Canada, Taiwan, mainland China, and Vietnam. The price drop, which began in mid-2022, has led to the re-emergence of former export markets as they can now afford the lower priced product. The industry remains hopeful that the Europe-Australia Free Trade Agreement (ECTA) will remove the 30% import tariff on goat meat, as it already has for sheep meat. The price drop was due to factors such as slow moving shipping containers, changing buyer demand, and China's COVID-19 policies. Despite these challenges, processors remain optimistic about the industry's future.

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

Original content

While the decrease in goat prices over the past nine months has caused concern among some producers, Australian goat processors say the price has opened some export doors for the industry. Any change in export demand is significant, given the Australian goatmeat industry is heavily reliant on the export market – only about 9% of domestic production is consumed in Australia, with the rest exported to overseas markets. MLA’s National Livestock Reporting Service (NLRS) data shows since mid-2022, the average over-the-hooks price has dropped from over $9/kg carcase weight (cwt) to below $4/kg cwt. The price correction has resulted in many former export markets re-emerging, according to Campbell McPhee, Managing Director of Western Meat Exporters (WME), Charleville, Queensland. WME processes 13,000 to 15,000 goats weekly, and exports 86% of its product with the balance supplying an ever-increasing domestic market. “As the goatmeat price looks to find a balance, it has certainly opened ...

Source: Mla