03/09/2023 | News release | Distributed by Public on 03/09/2023 01:39
09 March 2023
Key points:
Red meat exports in February continued the strong start seen in January, rising 20% from the same period last year to 125,003 tonnes.
Off the back of higher slaughter numbers in 2023, Australian red meat export volumes grew in February to 125,003 tonnes - 20% higher than the same period in 2022.
High demand in overseas markets, alongside a complex supply picture in other exporting regions, has given Australian exporters solid export conditions as production continues to rise.
February 2023 exports totalled 70,379 tonnes, 18% higher than February 2022. This was due to an increase of 34% in grassfed exports to 47,165 tonnes. In comparison, grainfed exports declined 5% year-on-year to 23,214 tonnes.
Beef exports year-on-year:
The substantial growth in the Indonesian market is the largest February increase for exports to Indonesia on record. This accounted for almost 9% of Australian beef exports in the month - the highest proportion of any month on record.
Figure 1: February beef exports to major markets 2021-2023
Source: Department of Agriculture, Fisheries and Forestry
As a total, sheepmeat exports have grown by 19% to 38,360 tonnes year-on-year.
In 2023, lamb exports grew by 10% to 11,769 tonnes, however mutton exports made the largest growth, rising by 37% to 15,592 tonnes.
Lamb exports year-on-year:
Mutton exports year-on-year:
What is most striking about these export figures is that these trends are occurring outside drought conditions. Previous records show that the only time exports have exceeded February's numbers was in the drought of 2019/2020, when producers were shrinking their herds in the face of drought conditions.
The high export volumes seen so far this year, surpassing a very strong 2022, bode well for sheepmeat exports in 2023.
Figure 2: February sheepmeat exports to major markets 2021-2023
Source: Department of Agriculture, Fisheries and Forestry
Exports are likely to remain strong for the next several months, especially compared to 2022 levels. The flooding in southern Queensland and northern NSW in early 2022 disrupted production and substantially affected the Port of Brisbane, slowing exports in March and April in particular.
At the same time, export suspensions from Brazil due to the case of atypical bovine spongiform encephalopathy (BSE) detected in late February have temporarily reduced the amount of beef on the global market, supporting export prices and boosting demand for Australian proteins overall.
Contact
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