Australian red meat exports gain momentum

Strong demand in overseas markets, along with a challenging supply picture in other exporting regions, has provided Australian exporters with good conditions to EXPORT as production continues to rise.

Beef

Exports in February 2023 amounted to 70,379 tons, which is 18% higher than in February 2022. This was due to a 34% increase in grass-fed beef exports to 47,165 tons. By comparison, grain-fed beef exports fell 5% year-on-year to 23,214 tons.

Japan increased Australian beef imports by 3% year on year to 16,657 tons. SOUTH KOREA - by 26% to 13,342 tons,  CHINA - by 9% to 12,528 tons,  usa - by 30% to 11,623 tons. Exports to Indonesia rose by 237% to 6,301 tons.

The strong growth in the Indonesian market is the largest increase in exports to Indonesia in February on record. That accounted for nearly 9% of Australian beef exports this month, the highest share of any month on record.

Lamb and lamb

Overall, mutton exports rose 19% to 38,360 tons year on year. In 2023, lamb exports increased by 10% to 11,769 tons, but mutton exports showed the largest increase, increasing by 37% to 15,592 tons.

Exports of lamb on an annualized basis increased by the United States - by 3% to 5,546 tons, remaining the largest market for Australian lamb. China increased imports by 15% to 4516 tons, the regions of the Middle East and North Africa (MENA) - by 32% to 3587 tons, South Korea - by 63% to 1799 tons.

China increased its imports of Australian mutton by 59% year on year to 6,407 tons, the largest shipment on record. Malaysia increased its imports of mutton by 27% to 2430 tons, the USA - by 59% to 1183 tons.

The high export volumes seen so far this year, surpassing the very high figures of 2022, bode well for lamb exports in 2023.

Exports are likely to remain strong over the next few months, especially compared to 2022 levels. Flooding in southern Queensland and northern New South Wales in early 2022 disrupted production and significantly affected the port of Brisbane, in particular slowing down exports in March and April.

At the same time, the suspension of exports from Brazil due to a case of atypical bovine spongiform encephalopathy, identified in late February, temporarily reduced the amount of beef on the world market, supporting export prices and increasing demand for Australian proteins in general.