Meat exports reflect the state of the global economy

New Zealand meat exports in 2023 reflect global economic conditions, the Meat Industry Association reported, the New Zealand Herald newspaper revealed. Although export volumes increased, the value decreased by 11% compared to the previous year, reaching 10.2 billion New Zealand dollars (about $6.3 billion). This decline is primarily attributed to difficult economic conditions and inflationary pressures in many key markets. Meat Industry Association CEO Sirma Karapeeva said red meat exports are “a good barometer of the state of the global economy.” Although global demand for red meat remains strong, consumers are not willing to pay the same prices as before. The report highlights that the value of New Zealand meat exports to China, the main market, decreased by 16%. In contrast, exports to the United States increased by 8%, mainly due to higher demand for beef. Despite the economic challenges, New Zealand's diversified red meat export strategy has helped mitigate the impact of ...