New Zealand Red Meat Exports Continued To Reflect Difficult Global Economic Conditions With Exports In March Totaling $1.1 Billion

New Zealand red meat exports continued to reflect difficult global economic conditions with exports in March totaling $1.1 billion, four% down on March 2022. Volumes of both sheep meat and beef exports increased by 16% and 9% respectively. While values of both decreased by 8% with sheep meat (46,679 tonnes) down to $448 million and beef (48,628 tonnes) to $416 million. Total exports for the first quarter of the year were worth $2.8 billion, 11% down on the same period in 2022. The value of sheep meat and beef exports both dropped by 15%, with each at $1.1 billion. Sirma Karapeeva, chief executive of the Meat Industry Association, puts it down to tough economic conditions in our major markets impacting the value of exports, particularly when compared to March 2022. China remained the largest market during March, with exports totaling $440 million. The United States was the second largest market but exports fell 13% to $244 million and The Netherlands was the third largest market for the month, with exports worth $45 million, up 11%.