New Zealand: Positive results for red meat exports, according to MIA

In May 2024, New Zealand saw a 3% increase in red meat exports, totaling $1.1 billion, with beef exports experiencing a 5% rise in volume and a 9% increase in value. The United States, Japan, and the United Kingdom were the top markets, with the US seeing a 28% increase in imports of red meat from New Zealand. Despite a decrease in exports to China, New Zealand's focus on meeting market access requirements and customer needs has allowed it to shift products to other markets, including the US, Japan, and the UK. Sheepmeat exports also saw an increase in the US, EU, and the UK, while the volume to China was down due to weak demand. Beef exports to Japan reached a record high, and there was a significant increase in tallow exports to Singapore, pushing it into the top 10 overall markets for the month.

New Zealand exported red meat products worth $1.1 billion for the month, three per cent up on May 2024. The most significant growth was in beef exports, up five per cent in volume and nine per cent by value. Overall exports included $358 million to the United States, up 28 per cent. May was a record month for the value of beef exports to the US. Exports to Japan rose 96 per cent to $72 million and the UK was up 51 per cent to $62 million. China was the second largest market with exports of $232 million. This is 42 per cent down from last May. MIA chief executive Sirma Karapeeva said it was encouraging to see some green shoots for the sector, supporting the Ministry for Primary Industries’ recently released Situation and Outlook for Primary Industries (SOPI) forecast that trade will see a strong recovery in 2025. "While the China market is still soft, the ability to shift products to other markets such as the US means companies are continuing to extract the best value for product ...