Tridge summary
Australian red meat exports increased by 2% year-on-year to 127,706 tonnes in October, driven by high lamb export volumes. Beef exports saw a slight decrease of 2% from the previous year, with Japan being the largest market despite a 16% year-on-year drop. Both China and the United States reported increases in their imports of Australian beef.
Sheepmeat exports continued to rise, with lamb exports reaching their highest volume since 2019. There was a notable increase in lamb exports to South-East Asia, particularly to Papua New Guinea. Mutton exports saw a decline, but increases in exports to China and South-East Asia helped offset a decrease in exports to the United States.
The weakening Australian dollar is helping to maintain the competitiveness of Australian red meat in global markets. Both Beef & Lamb NZ and the USDA are forecasting declines in production in 2023, which could lead to a positive outlook for Australian exporters.
Sheepmeat exports continued to rise, with lamb exports reaching their highest volume since 2019. There was a notable increase in lamb exports to South-East Asia, particularly to Papua New Guinea. Mutton exports saw a decline, but increases in exports to China and South-East Asia helped offset a decrease in exports to the United States.
The weakening Australian dollar is helping to maintain the competitiveness of Australian red meat in global markets. Both Beef & Lamb NZ and the USDA are forecasting declines in production in 2023, which could lead to a positive outlook for Australian exporters.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Australian red meat exports rose 2% from year-ago levels to 127,706 tonnes in October, driven by high lamb export volumes, as beef exports fell slightly from October 2021 volumes to 72,979 tonnes. Beef exports Beef exports fell 2% from year-ago levels to 72,979 tonnes. Exports to Japan fell 16% year-on-year to 15,751 tonnes, making it the largest single market for Australian beef for the month. China and the United States both recorded volume increases of 13% and 1% respectively, and exports to South Korea fell by 11% year-on-year to 13,764 tonnes. Exports rose in South-East Asia by 25% year-on-year to 9,626 tonnes. Long identified as a key market for Australian beef, the steady increase in exports to South-East Asia has contributed to the increasing diversification of Australian beef export markets. This was the strongest October for South-East Asian exports since 2019, and volume increases were seen across all major markets: Indonesian exports rose 26%, exports to the ...
Source: Mla
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