MIA: Meat exports to Italy increased by 244 percent in October
Overall, red meat exports for the month were worth $737 million, a six per cent increase on October last year. China was again the largest market, at $290m, followed by the US ($134m), Japan ($32m) and then Italy ($26m). Exports to Canada were also up 82 per cent on last October by value, to $22m.
MIA Chief Executive Sirma Karapeeva said that October had been a steady month for exports, with Italy the stand-out change from 2021.
"Italy is an important market for beef hides, which are used for the manufacturing of luxury goods. The value of these exports increased from $5.6m last October to $19.5m this October and this was the highest monthly value for more than four years.
"Sheepmeat exports to Italy were also worth $4.3m, compared to virtually no exports last October. This shows the importance and value of having a diverse export market strategy."
A total of 22,970 tonnes of sheepmeat, worth $289m, was exported globally. This was a drop of 6 percent by volume and value on 2021 but still in line with previous October months.
The volume of beef exports was largely unchanged from last October, at 27,505 tonnes, but value increased by 19 percent to $273m, mainly driven by China.
"We are closely monitoring the situation in China as there has been a noticeable recent weakening in the retail and food service sectors there. China is an important market for New Zealand’s red meat sector and the softening in demand is certainly affecting pricing."
There were increases in the value of the two main fifth quarter (co-product) categories, with hides and skins up 37 percent to $36m and casings and tripe up 38 percent to $30m. Overall, fifth quarter exports were worth $175m, a 12 percent increase on last October.
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