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

 

New Zealand Meat Exports October 2013 to June 2014

16 JULY 2014

FOR IMMEDIATE RELEASE

New Zealand Meat Exports October 2013 to June 2014

Beef + Lamb New Zealand (B+LNZ) compiles lamb, mutton and beef export statistics for the country. The following is a summary of the combined export statistics for the first nine months of the 2013-14 meat export season (1 October 2013 to 30 June 2014).

[All monetary values are in New Zealand dollars.]

Summary

Despite the high New Zealand dollar, particularly during the main export months of January to June, there was an increase in the average value for lamb, mutton and beef/veal. A smaller national lamb crop flowed through to reduced lamb export volumes. However, for only the fourth time in history, lamb exports exceeded $2 billion Free On Board (FOB) in the first nine months of a season. This 2013-14 season has seen high levels of mutton processing, but this is starting to drop off and is expected to continue easing until the end of the season. The high mutton throughput reflects early processing and the impact of dairy conversions. Meanwhile, beef and veal exports were up, with higher volumes exported since April.

October 2013 to June 2014 exports
Annual change %
Tonnes$ FOB$ FOB per tonne
Lamb-3.6%10.5%14.6%
Mutton17.1%32.1%12.9%
Beef and Veal4.4%5.8%1.3%

Sheepmeat

Lamb

Total lamb exports decreased by 3.6 per cent to 247,700 tonnes shipped weight in the first nine months of the season, compared with the same period last season. June was particularly low – down 13 per cent, compared to June 2013 – accounting for 40 per cent of the decline in volumes in 2013-14. The decline in lamb exports is expected to persist until the end of the season. As supply tighten, the average value of lamb exports increased.

Over the first nine months of the season, the average value of lamb exports was $8,320 FOB per tonne – up 15 per cent on the same period last season. The total value of lamb exports rose by 10 per cent, to $2.06 billion FOB. It is the fourth time in history that lamb exports exceeded $2.0 billion FOB in the first nine months of a season.

Lamb exports to the European Union decreased by 5.9 per cent, partly offset by a rise in exports to North Asia – up 2.4 per cent. This change in export destinations includes a change in the allocation between chilled and frozen lamb. Exports of chilled lamb decreased by 6.1 per cent, compared to a 2.8 per cent decline for frozen lamb.

Mutton

New Zealand’s exports of mutton increased by 17 per cent over the first nine months of the season, compared with the same period last season, reaching a record high of 81,700 tonnes shipped weight. Mutton exports were consistently above 2012-13 levels from October to March, but since April volumes started to decline and are expected to continue declining. In June, mutton exports fell by 21 per cent, compared to June 2013. The high level of mutton processing to date this season is partly due to dairy conversions, but also due to greater numbers of ewes processed earlier.

In the first nine months of the season, the total value of mutton exports rose by 32 per cent, to $429.2 million FOB. Mutton exports averaged $5,250 FOB per tonne, a 13 per cent increase on 2012-13.

Driven by China, the trade of carcasses continued to strengthen at the expense of higher value cuts. In addition to mutton carcasses having a lower average value than other cuts, their value increased less than the value of other cuts over the first nine months of 2013-14, compared with the same period last season. Mutton carcass exports averaged $4,650 per tonne in the first nine months of the 2013-14 season, up 7 per cent, while the average value of bone-in and boneless cuts increased by 23 and 25 per cent respectively to $5,100 and $7,330 per tonne.

Beef and veal

Over the first nine months of the meat export season, beef and veal exports increased by 4.4% to 312,700 tonnes shipped weight – the second highest level ever recorded. After remaining stable in the first half of the season, compared to the same period last season, beef and veal export volumes rose strongly in May and June (up 17 per cent and 20 per cent, respectively).

The total value of beef and veal exports increased by 5.8 per cent – to $1.85 billion FOB. Beef and veal exports averaged $5,900 FOB per tonne over the first nine months of this season, up 1.3 per cent on the same period last season.

Average returns achieved from Asian markets increased over the first nine months of the season, compared with the same period of 2012-13, while the average value received from North America was down on last season. The average value of beef and veal exports was up 5.3 per cent for North Asia, up 3.9 per cent for South Asia and down 1.5 per cent for North America.

Beef and veal exports to North Asia averaged $6,230 FOB per tonne in the first nine months of the 2013-14 season, while the average value was $5,550 for South Asia and $5,280 for North America. The differences reflect the product mix exported to each region.

With regard to processing beef exports, the average value of processing beef exported to North America was ahead of returns achieved from Asian markets. The average value received for processing beef from North America was $5,060 FOB per tonne, compared with $4,670 per tonne from North Asia and $4,240 from South Asia.

For more information, please contact B+LNZ Chief Economist Andrew Burtt on 04 474 0842 or B+LNZ Communications Manager, Jan KeirSmith 027 271 7593.

Meat exports interactive tool

B+LNZ has developed an interactive tool for further analysis of New Zealand’s meat exports. It allows you to generate and download customised data and graphs of export lamb and beef statistics by market, value, and volume. Examples attached.

Access the tool at: http://portal.beeflambnz.com/tools/export-tool


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

QV: Tax Changes Yet To Dampen Red-Hot Housing Market

Just over a month has passed since the Government announced measures aimed at dampening the rampant growth of the property market, and yet the latest QV House Price Index data shows the market hit a new high in April. The average value increased 8.9% nationally ... More>>

Stats NZ: Consents For New Homes At All-Time High

A record 41,028 new homes have been consented in the year ended March 2021, Stats NZ said today. The previous record for the annual number of new homes consented was 40,025 in the year ended February 1974. “Within 10 years the number of new homes ... More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>

Reserve Bank: Concerned About New Zealand's Rising House Prices

New Zealand house prices have risen significantly in the past 12 months. This has raised concerns at the Reserve Bank of New Zealand – Te Putea Matua about the risk this poses to financial stability. Central banks responded swiftly to the global ... More>>

Westpac: Announces Strong Financial Result

Westpac New Zealand (Westpac NZ) [i] says a strong half-year financial result has been driven by better than expected economic conditions. Chief Executive David McLean said while the global COVID-19 pandemic was far from over, the financial effect on ... More>>