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Markets shifts for red meat industry
New Zealand’s meat industry is facing stiffer competition as more countries export red meat to its biggest customer, China, according to the country’s meat industry association.
New Zealand’s red meat exports remains under pressure due to challenging global markets.
Red meat exports were worth $73 million in August 2023, a 16% on the same month last year.
The main decline was in exports to China, which were down 44% to $213m. In contrast, exports to the United States were up 26% to $188m, and exports to Canada were up 136% to $40m.
The decline in overall exports partly reflects the fact last year was a record for exports in August, however New Zealand was also facing growing competition in China. Meat competition has increased significantly in China and there are now 42 countries exporting meat to the country — 30 for beef alone.
Source : https://www.odt.co.nz/rural-life/red-meat/market-shifting-red-meat-industry#tbl-em-lnvj9vmslsdhq8smtz
