Record month for New Zealand red meat exports for March

New Zealand red meat exports during March achieved record values for any month with sales worth $1.26 billion, according to the Meat Industry Association (MIA). 

Values were up by 34 per cent compared to March 2024, with volumes for both sheepmeat and beef up by 10 per cent.

Red meat exports for the first quarter of the year were also up, worth $3.28 billion, a 28 per cent increase on the first quarter of 2024.

The United States was the biggest customer for both the first quarter and for March, at $1.4 billion and $398.2 million respectively, followed by China at $832.5 million and $286.2 million.

“The results are very positive and March was an exceptional month,” said MIA chief executive Sirma Karapeeva.

“We saw some increase in volumes, year on year, but a much larger increase in value. As well as being a record month for value overall, March also set a new monthly record for the value of beef to the US.

“The full impact of the US tariffs are still unclear for exports to the US as well as for what they may mean for our exports to other countries.

“While there was only a small increase in the volume of sheepmeat exported during the first three months of the year compared to 2024, and beef volumes were much the same, the value for both increased significantly.

“This growth was largely driven by the same factors we have seen in the first two months of the year — good demand for sheepmeat in the EU, recovery in sheepmeat prices in China and high demand for beef in North America.

“With the new US tariffs introduced in early April, we are yet to see what impact these are having on exports to the US.

“The one area where exports continued to be weak was beef to China, which was down 35 per cent by volume and value compared to last March. This was largely due to China continuing to import large volumes of beef from South America.”

March exports

Volumes of sheepmeat and beef exported during March increased by 10 per cent compared to March 2024 to 47,286 tonnes and 49,247 tonnes respectively.

The value of sheepmeat exports increased by 34 per cent to $523 million and beef was up 41 per cent to $534 million.

The volume of sheepmeat exports to China increased nine per cent to 21,213 tonnes but the value increased 38 per cent to $140 million. This meant the average value of exports was $6.62/kg compared to $5.26/kg last March.

The volume of sheepmeat exports to the EU rose 31 per cent to 8,750 tonnes and the value increased 54 per cent to $151 million, slightly above the $150 million worth of exports in February—which had been the highest monthly value of exports to the EU since 2009.

Beef exports to the US rose by 55 per cent by volume to 23,795 tonnes and the value was up 105 per cent to $285 million.

There was also a further increase in beef exports to Canada, up 121 per cent by volume to 3,246 tonnes and 192 per cent by value to $36 million.

March was also a good month for fifth quarter exports. Compared to last March there was an increase on exports of most categories, and overall fifth quarter exports were up 19 per cent to $203 million.

First quarter exports

Sheepmeat exports increased by five per cent for the quarter, to 123,665 tonnes but value rose 30 per cent to $1.35 billion. The value of sheepmeat exports to China was up 41 per cent to $408 million, by 45 per cent to the EU to $380 million and by 36 per cent to the UK to $137 million.

The only exception was the US, with a five per cent drop in value to $165 million.

Beef export volumes were largely unchanged from the first quarter of 2024 at 130,205 tonnes but value increased by 30 per cent to $140 billion. Exports to China were down but there was strong growth in beef to North America with the US up 74 per cent to $715 million and Canada up 125 per cent to $86 million.

Fifth quarter exports for January to March were also positive, with the value of all categories except petfood increasing, and the overall value up 15 per cent to $530 million.

ENDS