Tridge summary
In 2022, Australian red meat exports experienced challenges such as natural disasters, war, and inflation, leading to fluctuating consumer confidence in the market. Despite these setbacks, the industry saw positive growth, with record lamb exports and a slight increase in mutton exports. Beef exports, while reaching the lowest total since 2003, still brought in strong prices due to high demand. Trade agreements with India and the UK, along with a focus on the quality and traceability of Australian red meat, helped maintain its premium status in the global market. Meanwhile, lamb exports hit an all-time high, with the US and China as the primary markets, and there was a notable increase in exports to smaller markets. The future outlook for the red meat industry is promising, with expectations of herd liquidations in the northern hemisphere to decrease and Australian production set to increase, providing opportunities for exporters.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Australian red meat exports were faced with turbulent global conditions throughout 2022. While there were hugely positive developments, such as signing trade agreements with India and the UK, there was also a string of natural disasters, war and the onset of inflation, all of which have shaken consumer confidence in Australia’s major export markets. Despite this, Australian red meat exports performed strongly in 2022, with record lamb exports offering a window into 2023 for beef producers and exporters. Beef Beef exports totalled 854,596 tonnes for the year, down 4% from 2021 and the lowest total exports since 2003. Export volumes fell in most major markets, with Japan and the USA each falling 8%, South-East Asia and the Middle East North Africa (MENA) region falling 6%, and South Korea falling 3%. The exception was China, where beef exports rose by 7% to 158,000 tonnes for the year. Despite this, high demand led to strong prices for beef exports. Prices peaked in June at ...
Source: Mla
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