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

UK FTA helps boost exports

Meat Industry Association chief executive Sirma Karapeeva says the outlook for beef in the US is expected to hold up for several years as that country continues to liquidate its herd due to drought.

Red meat's rollercoaster ride

Global demand is still strong for NZ protein and the outlook for meat is good despite the present turmoil in some key markets - especially China.

Miraka lands A2 deal

Taupo-based milk processor Miraka has landed a deal to supply premium low-carbon A2 milk products into China.


Farmers back ACT MP's bill

ACT MP and Northland dairy farmer Mark Cameron is lodging a new member’s bill that would prevent regional and district councils from regulating greenhouse gas emissions.

Calls for more support for vets, nurses

The animal health sector needs to change to keep up with the times, according to the discussion at a breakfast event hosted by Boehringer Ingelheim at the NZ Vet Association and NZ Veterinary Nursing Association conference in Christchurch recently.


Govt unveils climate strategy

The Government has launched its new Climate Strategy, which it says is a comprehensive and ambitious plan to reduce the…

Machinery & Products

More efficient jumbo wagons

In a move that will be welcomed by many, Austrian manufacturer Pottinger appears to be following a trend of bringing…

Fieldays' top young innovator

Growing up on a South Waikato sheep and beef farm, Penny Ranger has firsthand experience on the day-to-day challenges.

Claas completes 500,000th machine

Claas is celebrating half a million combine harvesters built since 1936, marking the occasion by building anniversary machines from the…

Donated tractors welcome news

When Cyclone Gabrielle hit in February 2023, it left an estimated $13.5 billion worth of damage across New Zealand.

» Latest Print Issues Online

The Hound

Fieldays focused

OPINION: Your old mate had a wee crack at Fieldays recently for the perception it was more focused on quantity…

'Woke madness'

OPINION: Real estate agent Janet Dickson's court case, following her refusal to complete a compulsory Māori culture course, is being watched…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter