Red Meat May Export Analysis

The Meat Industry Association reports May exports had less volume but a higher value then last year

An analysis of New Zealand's red meat exports from the Meat Industry Association (MIA) shows a significant drop in volume but a growth in sales value for May 2022. The month saw sales value of $1.1 billion, which is a 28 percent increase on 2021.

"So far this year, we have exported 183,000 tonnes of sheepmeat, which is 14 per cent less than the same period last year. However, the value of sheepmeat exports so far this year is $2.2 billion, which is eight per cent higher than the same period last year." Said Sirma Karapeeva, Chief Executive of the Meat Industry Association

“It is a similar story for beef. So far this year, we have exported six per cent less beef than the same period for 2021. However, the value of beef exports so far this year is $2.2 billion, which is 29 per cent higher.”

Sheepmeat exports to China have dropped compared to last year, but beef exports have increased by 27 percent with 20,794 tonnes.

In other markets, the UK recieved around 5,376 tonnes of red meat, the largest monthly volume seen since March of 2020. Only eight percent of this stock was chilled. Exports to the US were down 30 percent, a continuing trend as the nation has increased domestic production.

Beef prices remain strong in other major markets, with an average FoB value that has increased to $10.43/kg.