Exports from the New Zealand red meat sector to Italy rose 244% in October compared to 2021, with demand for mutton and beef hides soaring, according to an analysis by the Meat Industry Association.
The association’s general manager, Sirma Karapeeva, said total red meat exports for the month were worth $737 million, up 6% from October last year.
China was again the largest market, with $290 million, followed by the United States ($134 million), Japan ($32 million), and then Italy ($26 million).
Exports to Canada were also 82% higher in value than in October last year, to $22 million.
October was a stable month for exports, with Italy a notable change from 2021, she said.
“Italy is an important market for beef hides, which are used in the manufacture of luxury goods. The value of these exports increased from $5.6 million last October to $19.5 million in October, the highest monthly value in more than four years.
“Sheep exports to Italy were also worth $4.3 million compared to virtually no exports in October last year. This demonstrates the importance and value of a diverse export market strategy.”
A total of 22,970 tons of mutton, worth $289 million, was exported worldwide. This was a 6% decrease in volume and value from 2021, but still in line with previous October months.
Beef export volume was largely unchanged from October last year at 27,505 tons, but the value increased by 19% to $273 million, mainly driven by China.
“We are closely monitoring the situation in China as there has recently been a noticeable weakening in the retail and foodservice sectors there. China is an important market for New Zealand’s red meat sector and declining demand is definitely impacting pricing.”
There were increases in the value of the two major categories in the fifth quarter (co-product), with hides and skins up 37% to $36 million and casings and tripe up 38% to $30 million. Overall, fifth-quarter exports were worth $175 million, up 12% from October last year.