New Zealand sees higher returns for beef exports
The latest export statistics from Beef + Lamb New Zealand (B+LNZ) put the average per tonne value of beef up by 28%, compared to the same period last season.
Total export volumes for beef and veal stood at 212,142 tonnes (t) – up 11.9%, however volumes for lamb dipped slightly, down 2.9% to 153,687t, and mutton exports were down 18% in volume, to 50,983t.
Exports of lamb to the European Union – New Zealand’s largest market for lamb – were up, 3.9% to 68,700t during the first half of the season, but exports to north Asia fell 8.5%, mainly due to fewer carcases being supplied to China.
The drop in export volumes for mutton was driven by lower mutton production in 2014-15, compared to the previous season, according to B+LNZ, with less volume going to north Asia, in particular China which took 30% less in volumes.
However, the strong US dollar against a weaker NZ dollar benefited exports of beef, with volumes to the US up 33% to 122,200t. Exports to China also increased significantly, up 21% to 21,000t during the period.
The increase in beef and veal exports came predominantly from processing beef – up 23% – which is primarily used to make hamburgers. Exports of boneless cuts, which make up 34% of total beef and veal export volumes, fell 0.8%.
"Strong demand and a weaker New Zealand dollar against the US dollar pushed the average per-tonne value of beef and veal exports up by 28%, to $7,540 per tonne, compared with $5,890/t in the corresponding period last season," said the latest report from B+LNZ. "The average value of New Zealand beef and veal exports to the US and China increased by 40% and 21% respectively."
