Soaring demand for beef drives 26% increase in New Zealand red meat exports in August

Published Sep 30, 2021

Tridge summary

New Zealand's red meat exports experienced a significant surge in August, with a 26% increase compared to the same period last year, totaling $650 million. This growth is primarily attributed to a 39% rise in beef exports, largely to China, the United States, and Japan, and a 10% increase in the value of sheepmeat exports, despite a 7% drop in volumes. The average value of sheepmeat exports was $11.43/kg, the first time it exceeded $11/kg since late-2019. However, exports to the UK saw a 52% year-on-year decrease, the first time volumes fell below 1,000 tonnes in a month, potentially due to Brexit. The Meat Industry Association of New Zealand (MIA) remains optimistic about the sector's ability to adapt to disruptions and maintain its economic contribution.

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

Original content

30 September 2021 New Zealand’s red meat exports increased by more than a quarter in August compared to the previous year, according to an analysis from the Meat Industry Association (MIA). Overall exports for August 2021 reached $650 million with the 26 per cent increase largely driven by a growth in beef exports, up 39 per cent to $299m year on year. Exports to the top three beef markets all increased, with China up 89 per cent to $117m, the United States by 31 per cent to $102m and Japan by 31 per cent to $15 million. Sirma Karapeeva, MIA chief executive, said volumes of beef exported during August were also historically high. “A number of factors are contributing to tight global beef supplies. This includes herd rebuilding in Australia and export restrictions in Argentina. New Zealand exported a total of 35,327 tonnes during August, which is 71 per cent higher than the average beef export volume for the month over the last 30 years. “In early September, China halted imports ...

Source: Mia