New Zealand: Red meat exports fall in September as global markets weaken

Total exports for the month were down 18 percent compared to September last year. Exports to Canada, the UK and Saudi Arabia increased, but fell to China, Japan, Taiwan, Korea, the US and Australia. Interior Minister Sirma Karapeeva said the fall was partly the result of very high export values in September last year, but it also reflected continuing difficult economic conditions in many major markets. “China in particular continues to struggle, with total exports in September of $187 million, down 31 percent from September last year. “We also saw a 31 per cent decline in exports to Australia, which has seen high levels of domestic meat production and exports as Australian farmers reduce stocks in anticipation of expected El Niño-induced drought.” Ms Karapeeva said there were some positive signs in the UK market, with total exports up 33 per cent to $17 million. “This was partly the result of a recovery in lamb exports from low levels in September last year, as well as continued ...