New Zealand red meat exports are likely to decline

Published 2020년 10월 26일

Tridge summary

New Zealand is preparing for a decline in red meat exports due to the impact of COVID-19 on the global economy, consumer demand, and trade channels. According to a report by B + LNZ, mutton export revenues are projected to decrease by nearly 15% and beef and veal by 9% compared to the previous season. This will affect producer prices and the profitability of farms, with average pre-tax farm earnings projected to decline by 26%. The trade environment is expected to remain uncertain due to key trade negotiations and relations between the US and China.

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

Original content

New Zealand expects red meat exports to decline. COVID-19 continues to create uncertainty in beef and lamb exports, affecting the global economy, consumer demand and trade channels. Export revenues are critical to New Zealand's economic recovery. According to the B + LNZ report, difficult conditions will cause New Zealand's red meat exports to decline in the 2020/21 season. This applies to both lamb and beef. Mutton export revenues are projected to decline by almost 15% and mutton by-products by around 8% compared to the 2019-2020 season. Beef and veal export revenues are expected to decline by 9% between 2019 and 2020. The uncertainty that affected red meat exports will affect producer prices and the subsequent profitability of farms. - says Andrew Bertt, chief economist at B + LNZ. Average pre-tax farm earnings for New Zealand sheep and beef farmers are projected to decline by 26% to $ 115,100 this season. ASF Zones - Restrictions Eased in 60 Municipalities [MAP] B + LNZ ...

Source: SwiatRolnika