US helps offset weak Chinese market
Red meat exports topped $932 million during February, with demand from the US helping to offset the weak Chinese market.
According to analysis by the Meat Industry Association (MIA), NZ’s overall meat exports during the year reached historically high levels – 7% above 2018 exports ($8.6 billion) and 21% above 2017 ($7.6 billion).
The top 10 markets for New Zealand meat remained unchanged during 2020. China continued to be the major customer, with exports worth $3.3 billion, accounting for 36% of total exports for the year.
While exports to China were down from the record levels of 2019 ($3.7 billion), these were still 40% higher than during 2018 ($2.3 billion).
Exports to Germany and the Netherlands decreased by 8% and 21% respectively, but the value of exports to all other of NZ’s top markets increased.
Sheep meat exports rose by 3%, to just over 400,000 tonnes, with China the top market, followed by the UK and US. Exports to the UK increased 10% by value compared to 2019.
Beef exports rose in both volume and value, to 471,718 tonnes, worth $3.7 billion, with the US the top market, up 42% by value, to $1.4 billion. Beef exports to China dropped by 26%, compared to the record high levels of 2019, as other countries like Brazil increased their access to China. However, this was offset by an increase in exports to other markets.
