New Zealand

NZ red meat exports reach $1 billion in March

Lamb

It is the second time when the industry breaks the barrier of NZ $1 billion (US $750 million).

Posted on May 11 ,10:29

In March, New Zealand's red meat exports surpassed the ceiling of $1 billion (US $750 million) for the second time in the history (the previous record was reported in March 2020), according to data released by the Meat Industry Association (MIA). "The first time our monthly exports hit the billion-dollar mark was in March 2020 at the start of the global pandemic. The March 2021 month’s $1.04b export earnings confirm the strong global demand for safe, quality red meat. It also suggests that some of the initial COVID-19-related disruptions are starting to resolve as countries get on top of the virus," commented MIA Chief Executive Sirma Karapeeva, quoted by the Rural News Group magazine.
China was the major destination for New Zealand red meat in March, taking 45% of total exports, up 35% than the same period last year. New Zealand sheepmeat exports to China also increased to a record monthly volume of 36,434 tonnes.
New Zealand's red meat exports for the first quarter of 2021 totaled 2.7 billion in local currency (US $1.9 billion), despite some significant logistical and other ongoing global challenges. For the last 12 months, red meat exports to China have remained steady, while the US market has increased demand by 8%.

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