New Zealand meat exports defied the effects of a very strong Kiwi dollar to reach a record high of $5.3 billion in 2013-14, driven by high average values, Beef and Lamb NZ said.
Analysis by Beef and Lamb New Zealand's Economic Service showed the year to September 30 was a positive one for beef, veal, lamb and mutton, with exports up by $480 million on the previous season's.
This was despite the New Zealand dollar being strong for most of the year, peaking at US88.36c in July. The currency has since retraced its steps, trading today US79c.
Beef and Lamb chief economist Andrew Burtt said that, for the second season in a row, North Asia was the largest market for New Zealand meat exports, accounting for 31 per cent of total returns, while the European Union (EU) and North America remained the primary markets for lamb and beef/veal, respectively.
The amount of lamb exported was down 3 per cent, reflecting last season's smaller lamb crop, but total returns were up 9.5 per cent to $2.52 billion.