Global: Overseas agriculture-related information express (issue 424)

New Zealand
Market & Price Trends
Published Mar 2, 2024

Tridge summary

Australia is experiencing a surge in beef production, with an expected 8% increase in exports by 2023, primarily driven by Queensland. Meanwhile, Argentina's total exports have grown by 9.6% in January 2024, reaching US$4.498 billion, with a notable 278% increase in wheat exports. On the other hand, New Zealand's farming sector is under economic strain, with agricultural inflation at 16.3% and lamb prices dropping 20% below the five-year average, resulting in the lowest profitability in 15 years.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

1. According to recent data from the Australian Meat Association website, Australia has increased production capacity through the renovation and expansion of existing feedlots, and its breeding capacity has reached a new high. The annual beef export volume in 2023 will increase by 8%, with a record of 1.3 million beef cattle in December 2023. The breeding volume is recorded, an increase of 3% compared with the third quarter of 2023. Queensland continues to dominate the Australian beef cattle industry, accounting for half of the country with 750,000 head, a year-on-year increase of 11%. Australian beef exports are on an upward trend at the end of 2023. Export volume in the fourth quarter increased by 18% year-on-year. ​ 2. According to a recent report on Argentina's "Clarion" website, Argentina's total exports in January 2024 reached US$4.498 billion, a year-on-year increase of 9.6%. Among them, wheat exports performed strongly, with exports soaring to US$565 million, a ...
Source: Foodmate
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