New Zealand red meat exports totaled $3.1 billion in the first quarter of this year, up 17 % year-over-year, the New Zealand Meat Industry Association reported On May 12. Red meat exports in March got $1.15 billion, up 11% year over year.
New Zealand red meat exports to China, the country's largest export market, slowed in the first quarter to S $1.2 billion, down 1 % year over year. Red meat exports in March got $384 million, down 17 % year over year.
Except China, New Zealand's red meat exports to other major markets are growing. For example, New Zealand red meat exports in March reached $288 million to the US (up 48% year over year), $65 million to the UK (up 22% year on year) and S $50 million to Japan (up 18% year over year).
The principle of the New Zealand Meat Industry Association said the slowdown in meat exports to China was not unique to New Zealand. Chinese import data showed that imports of all meat fell in March. The increase in New Zealand red meat exports to markets outside China demonstrates the agility of New Zealand exporters to manage different markets according to global conditions.