Red meat exports slump, thanks to China
Weaker pricing and demand from China continue to impact New Zealand red meat export earnings.
"With one month to go in the 2014/15 beef export season, beef exports are at a new high of $3 billion," says international statistics senior manager, Jason Attewell.
"So far this season, 404,000 tonnes of beef have been exported, and if we export at least 18,000 tonnes next month we'll surpass the peak 2003/04 season for quantity exported."
The US remains our top beef export destination this season, for both value and quantity.
Beef export values to the US have hit a record high of $1.6 billion (up 64%) for the season to date, with quantities up 21% compared with this time last year.
Beef export values to China continued to increase, up 88% for the season to date, to $394 million, with quantities up 52% compared with this time last year. "International shortages, rising production, and a falling New Zealand dollar have contributed to this record beef season." says Attewell.
