Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ red meat exports top $6.7 billion in 2017-18

Latest export figures from Beef + Lamb New Zealand (B+LNZ) show New Zealand’s red meat exports (excluding veal and co-products) were up $1.2 billion (21 per cent) on 2016-17 to over $6.7 billion in 2017-18 on the back of sustained high value per tonne and increased volume for lamb, mutton, and beef.

“While the highlights of the season were record high average values per tonne for lamb and mutton, the average value of beef exports remained high since the marked increase in 2014-15,” says B+LNZ’s Chief Economist Andrew Burtt.

“Good farm-gate prices and strong average values per tonne for exports occurred throughout the season, even during the fast start to the processing season driven by the dry conditions in December 2017.”

Total lamb exports were over $3.1 billion, up 25 per cent on 2016-17 and 28 per cent higher than the five-year average, with the average value of lamb exports staying over $10,000 per tonne for the entire season. While these levels were reached on occasion in 2010-11 and 2011-12, it was not sustained across the entire season.

Total mutton exports benefitted from limited international supply and strong demand to reach $618 million, up 46 per cent on 2016-17.

Increasing demand for sheepmeat from China, particularly mutton, and tight supply from Australia and New Zealand, increased competition for New Zealand’s sheepmeat. Limited international availability of mutton drove improved value for sub-primal cuts of lamb, which began in mid-2016-17, and lifted the overall average value of lamb exports.



In comparison with lamb and mutton, increases in the volume and value of beef exports this season may seem subdued, but total beef exports exceeded $3 billion, up 14 per cent on 2016-17 and up 17 per cent on the five-year average.

The average value of beef exports has remained steady and strong since the 2014-15 season, driven by demand from the United States for lean manufacturing beef.

However, in 2017-18 China overtook the United States as New Zealand’s largest red meat export market by value and volume. China accounted for one-third of New Zealand’s red meat exports as the trend of an increasing share of New Zealand’s beef exports continued, combined with lifts in the share of lamb and mutton exported.

The United States remains New Zealand’s largest beef export market, but the total share of beef decreased two percentage points to 47 per cent.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Robertson Speech: Budget Sees Wider Debt Target

"New Zealand is well positioned to face this instability and uncertainty, but we are not immune from its impacts. Growth rates are set to be lower than we have seen in recent years..." More>>

ALSO:

Commerce Commission: Spark Warned Of Broadband Price Rise

The warning follows an investigation into representations Spark made on its website and in emails in August and September 2018, notifying in-contract customers receiving its copper-based broadband service of its decision to increase the price by $5 a month. More>>

Law Commission: Resist Rushing To New “Deepfake” Law

Artificial intelligence techniques can create massive volumes of fake audio, images and video that is incredibly convincing and near-impossible to detect... While it is tempting to respond with new law, the study finds that the long list of current legislation covering the issues may be sufficient. More>>

ALSO:

'Contrary To US Interests': US Lockout Sees Android Ditch Huawei

Effective May 16, 2019, the Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) by adding Huawei Technologies Co., Ltd. (Huawei) to the Entity List. More>>

ALSO: