Thursday, 04 April 2024 09:59

US helps offset weak Chinese market

Written by  Sudesh Kissun
Red meat exports topped $932 million during February. Red meat exports topped $932 million during February.

Red meat exports topped $932 million during February, with demand from the US helping to offset the weak Chinese market.

Overall, New Zealand red meat exports in February were up 10% on the relatively low export value recorded in February 2023, largely due to a rise in sheepmeat and beef exports, particularly to the US.

Sheepmeat exports increased to nearly all major markets, apart from China where the volume fell by 8% to 19,401 tonnes.

Beef exports increased by 20% overall to 48,431 tonnes. This was 15% above the average for February exports over the last five years and included a 4% increase to China.

The EU and UK markets saw an increase in both volume and value for beef. So far this year, New Zealand has exported 998 tonnes of beef to the EU, worth $19.8m, a 38% increase in volume and 16% increase in value compared to the first two months of last year.

The average free on board (FoB) value of beef exports to the EU is $19.83/kg, more than twice the $8.31/kg average for beef exports.

Meat Industry Association chief executive Sirma Karapeeva said increased export volumes to the US were helping to offset lower demand from China.

“In February, the US accounted for nearly the same proportion of overall exports as China – 28% and 30% respectively.

“However, the results from the high value EU market highlights how the limited quota for beef in the Free Trade Agreement is a real missed opportunity for companies to develop a valuable market to help boost economic returns for the sector and the country.”

More like this

Crackdown on Chinese use of Zespri IP

Authorities in China have clamped down on companies in that country which have been packaging and selling their own local fruit under the Zespri brand.

China trade

OPINION: Last week's revelation that data relating to New Zealand MPs was stolen amid Chinese state-sponsored cyber espionage targeting two arms of the country’s Parliament could test the long-standing trade relations between the two countries.

No easy ride for struggling sheep farmers

Stubbornly high farm input costs, a slow Chinese recovery and a flood of Australian lamb onto the global market are the main factors contributing to the tough times being faced by NZ's sheep farmers.


Farmers fined for cattle abuse

A Waikato cattle farming family have been fined $23,000 for failing to provide sufficient food and care for their animals, resulting in more than half a dozen animal deaths.

App trial yields promising results

An initial trial of an app, funded by Beef + Lamb New Zealand, has demonstrated significant results in reducing drench inputs during a small-scale study.


Back to the tractor!

Alliance Group chair Murray Taggart is looking forward to spending more time on farm as he steps down after a…

Machinery & Products

PM opens new Power Farming facility

Morrinsville based Power Farming Group has launched a flagship New Zealand facility in partnership with global construction manufacturer JCB Construction.

AGTEK and ARGO part ways

After 12 years of representing the Landini and McCormick brands in New Zealand, Bay of Plenty-based AGTEK and the brands’…

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

» Latest Print Issues Online

The Hound


OPINION: Your canine crusader was truly impressed by the almost unanimous support given by politicians of all stripes in Parliament…


OPINION: As this old mutt suggested in the last issue, MPI looks a very good candidate for some serious public…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter