UK: Export returns boost for Welsh red meat

Published Sep 30, 2024

Tridge summary

The UK has experienced a significant increase in red meat exports in the first half of 2024, with beef exports rising by 14% in volume and 16% in value, reaching a total of 9,000 tonnes. Ireland remains the primary destination for UK beef exports, with notable growth in shipments to the Netherlands, Hong Kong, and Canada. Sheep meat exports also saw an increase, driven by stronger farmgate prices, but there was a ten% decrease in fresh and frozen sheep meat export volumes. Importantly, the value of these exports increased by nine%, totaling £293.7 million. Additionally, imports of both sheepmeat and beef increased, with New Zealand and Australia being the main suppliers, contributing to the lower price of lamb in the UK market.

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

Original content

Some 9,000 tonnes of beef were exported in the first six months of the year, estimated to be 14 per cent higher than January-June 2023 and the value of these shipments has also risen by 16 per cent. The value of sheep meat exports has increased by six per cent, driven by stronger farmgate prices as domestic supply constraints have led to tighter export volumes of fresh and frozen sheep meat at 12,000 tonnes, a ten per cent decrease. September’s HCC Market Bulletin puts the focus on red meat trade in the first half of 2024 and reflects on positive news for the Welsh and UK beef industry in particular. "In export terms, beef has seen strong momentum in this first six months of the year with double-digit rises in value and volume", said Glesni Phillips. HCC’s Intelligence, Analysis & Business Insight Executive. "HMRC data for the UK reports nearly 56,000 tonnes of fresh and frozen beef- worth £265.6 million- were exported in the first six months of 2024, an eleven per cent increase ...

Source: EuroMeat