Beef exports to China were down but overall exports remained steady due to strong demand from the US, Japan and Canada. Photo / Meat Industry Association
All key red meat export markets, apart from China, showed positive growth during June, according to an analysis from the Meat Industry Association (MIA).
New Zealand exported red meat worth $914 million during the month, a 2% increase on June 2023.
The US was again the largest market, with exports up 14% to $303m.
There were also increases in Japan, up 53% to $61m, the UK, up 66% to $53m, and Canada, up 94% to $51m.
China was the second-largest market but fell 38% cent to $176m.
Karapeeva said beef exports to China were also down but overall exports remained steady due to strong demand from the US, Japan and Canada.
“These trends were also reflected in the data for the second quarter and for the year to the end of June, with the value of exports down for China but increasing to most other key markets.”
Sheepmeat exports totalled 29,829 tonnes in June, up 22% from a relatively low level last June.
Value only increased by 8%, to $294m, due to the lower value of exports to China.
The US imported New Zealand sheepmeat worth $62m, with China dropping by 39% to $52m.
Beef exports increased 1% by volume to 50,907 tonnes and 3% by value to $470m.
Beef exports to China were down 44% to $83m but exports to the US rose 16% to $221m, 101% to Japan to $46m and 112% to Canada to $35m.
Fifth quarter exports were unchanged from last year at $150m.
Second quarter results
During the second quarter, overall red meat exports fell by 1% to $2.9 billion, but the value of most markets increased.
The US was the largest overall market, up 17% to $894m. China was down 40% to $638m, Japan increased 77% to $185m and the UK increased by 56% to $167m.
Sheepmeat volumes increased by 4% to 105,658 tonnes, but value fell 4% to $1.02bn.
The value of sheepmeat exports to most markets was up compared to quarter two of 2023, apart from China, which was down 44% to $228m.
Beef volumes rose by 1% to 148,064 tonnes, with value up by 3% to $1.36b.
A 42% drop in beef exports to China to $274m was offset by continued good demand in the US, up 17% to $634m, a recovery in exports to Japan, up 133% to $137m, and a big increase in demand from Canada, up 154% to $73m.
Fifth quarter exports were down 3% to $518m.
Decreases in exports of casings and tripe, down 12% to $94m, and meat and bone meal, down 11% to $57m, were partially offset by a large increase in exports of blood products, up 92% to $65m.
Exports to North America and the UK increased in volume and value.
Volumes to the EU were largely unchanged but value fell by 10%.
Beef volumes also increased by 3% to 511,736 tonnes. However, value fell by 4% to $4.42n, largely due to China, where exports were down 35% to $1.27b.
This was partly offset by growth into the US, up 30% to $1.74b, Canada up 106% to $209m, and recovery to Japan up 27% to $328m.
The value of beef exports to the US was also significantly higher than to China.
While New Zealand exported only 9000 more tonnes of beef to the US compared to China during the year, the exports to the US were worth $470m more, which is highlighted by the respective free on-board (FoB) value of $9.29/kg vs $7.12/kg to the two markets.
After a full year of the free trade agreement (FTA) operating, the UK was one of the top 10 beef markets for 2023/24, the ninth-largest by volume at 3881 tonnes and the eighth-largest by value at $48m.
Fifth quarter exports were worth $1.93b for the year, down 13% from 2022/23.