Australia: Exports continue to climb

Published 2024년 4월 16일

Tridge summary

In March, Australia witnessed an 8% increase in beef exports compared to the previous year, with a notable 58% surge in exports to the United States due to its declining domestic production. Japan remained the second-largest market with a slight 3% growth, while exports to China and South Korea declined. The UK market experienced significant growth, nearly quadrupling its imports from Australia, buoyed by the A-UK Free Trade Agreement. Additionally, lamb exports from Australia increased by 36%, mainly to the US and the MENA region, reinforcing Australia's expanding global market share in lamb. However, mutton exports saw a slight decrease, with a notable drop in exports to China but an increase to the MENA region. Goat exports also grew by 5%, largely due to a significant rise in demand from the US.

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

Original content

Australia exported 106,574 tonnes of beef over March, 8% more than last year. The standout increase was exports to the United States, which rose by 58% year-on-year to 29,346 tonnes. Domestic production of beef in the US is continuing to decline, which is pushing the amount of beef in cold stores down and pulling imports up. Outside of the US, Japan was the second largest market for the month, and exports lifted 3% year-on-year to 21,007 tonnes. Exports to China and South Korea fell by 17% and 25%, respectively, compared to March last year, but exports remained above average, and the declines were mostly due to March 2023 being an abnormally high month for both countries. Beef exports to the United Kingdom almost quadrupled to 506 tonnes as we approach the one-year anniversary of the ratification of the A-UK Free Trade Agreement. While remaining relatively small, exports to the UK have steadily grown over the past year and are highly concentrated in higher-value product segments ...

Source: EuroMeat