NZ: Value of red meat exports drops to $10b in 2023
Issues affecting the red meat sector have been laid bare with exports worth 11 percent less in 2023 compared to the year before.
New figures from the Meat Industry Association show despite red meat exports growing in volume last year the value was down to $10.2 billion.
China remained the largest market but exports fell 16 percent to $3.6b, exports to Japan fell 31 percent to $388 million, 22 percent to the UK to $361m and four percent to the Netherlands, to $347m.
MIA chief executive Sirma Karapeeva said red meat exports were a good barometer of the state of the global economy.
“The drop was mainly due to tough economic conditions and inflationary pressures in many of our key markets.
“Consumers around the world still want to buy red meat but they are not paying as much for it.”
Karapeeva said increased supply from other exporters, including a significant increase in Australian sheepmeat exports, also had an impact.
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