New Zealand’s red meat exports to China fell 42% in May

In May, red meat exports to China were valued at $232 billion.
photo: Meat Industry Association

The latest red meat export data exposes the slump in Chinese demand – with exports down 42% in May compared with the same period last year.

New Zealand’s exports to major trading partners were worth $2.32 million in May.

Sheep meat exports to China fell 1% in volume to 15,499 tonnes, but the value of exports dropped 49% to $84 million.

Meat Industry Association chief executive Sirma Karapeeva said this appeared to be due to weak demand rather than increased supply from other exporters, as Australian sheepmeat exports to China had also fallen in the past three months compared with last year.

New Zealand beef exports to China fell 33% in volume to 14,387 tonnes, while the value of exports fell 45% to $98 million.

Despite low demand in China, demand for Karapayeva red meat has risen in most markets.

New Zealand exported $1.1 billion worth of red meat products in May, up 3% from May 2023.

Exports to the United States rose 28% to $358 million, while exports to Japan rose 96% to $72 million and exports to the United Kingdom rose 51% to $62 million.

“While the Chinese market remains weak, the ability to move product to other markets such as the US means companies can continue to extract the best value for their products under current global conditions.

“The industry is placing a high priority on meeting key market access requirements and customer needs, which is key to New Zealand opening its doors to world markets, including the US market.”

She said increased beef exports to Japan and the UK demonstrated the value of free trade agreements because lower tariffs made our products more competitive.