Global red meat prices in almost all major markets increased during September, however prices have started to ease, according to an analysis by the Meat Industry Association (MIA).
Exports of red meat and co-products in September were worth $777 million, a 21% increase on last year with the top three markets China ($286m), the United States ($149m) and the Netherlands ($29m).
High export prices in the 12 months to the end of September saw the total value of exported red meat and co-products reach $11.5 billion, up 20% from the previous year.
Beef exports were worth $4.8b for the year (up 25%), sheepmeat exports were worth $4.5b (up 15%), and fifth quarter exports were worth $2.2b (up 20%).
MIA chief executive Sirma Karapeeva says China is importing large volumes of beef from Brazil which is reflected in the free on board (FoB) value of NZ beef exports to China in September $9.24/kg, down from a record $10.54/kg in July.
The total volume of beef exports for September rose 3% compared to the same month a year ago last September, to 34,665 tonnes, with the value increasing by 25% to $338m.
Beef exports to China followed a similar pattern to recent months, increasing 37% to $152m.
The value of sheepmeat exports for September was $255m, up 18% compared to the same month last year, with main markets China ($95m), the US ($38m) and Germany ($23m).
For the year to date, China imported less sheepmeat.
From January to September 2021, it imported a total of 332,569 tonnes of sheepmeat from all markets. During the same period in 2022, it imported 273,229 tonnes.
NZ exported 145,671 tonnes of sheepmeat to China between January and September this year, a 22% drop on the same period last year.
The value of co-products in September was $184m, up 19% from September last year.
