5th November 2020 By Staff Reporter | email@example.com | @foodtickernz
New Zealand’s red meat exports to the United States grew by 50% in the third quarter helping to offset a decline in demand from China, according to Meat Industry Association’s latest data.
Total exports to the US reached $400m for the three months from July to September. The increase to the US was closely followed by a 42% rise in exports to the UK which came in at $71m, while exports to Germany also grew 25% to $70m.
The growth in these key markets offset a 25% decline to China which came in at $530m, though the value of sheepmeat and beef exports to China remained at an “historically high level.”
Overall, exports in the third quarter were $1.69bn, unchanged from the same period in 2019.
“There was also some re-balancing to other markets from the record levels that were going to China last year,” said MIA’s chief executive Sirma Karapeeva.
“This demonstrates the industry’s ability to adjust product specifications and destinations to meet the demand from our global markets.”
For the year ending September 2020, exports were up 8% to $9.39bn compared with the previous year. The value of exports to nearly all of the top 10 markets – except the Netherlands – increased.
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