Billion dollar year for Aussie lamb exports

07 February 2012

Australian lamb export values passed the $1 billion mark for the first time in a calendar year in 2011, finishing the year worth a record $1.1 billion FOB - 12% higher than the previous year (Australian Bureau of Statistics). While the total volume of Australian lamb exported in 2011 increased 3%, the historically high prices experienced throughout the year were partially passed through to export markets, with the unit value of lamb exports (A$/tonne) higher than in 2010.

The US remained by far the most valuable market for Australian lamb exports during 2011, growing 19% year-on-year (despite shipments lifting just 1%), to $350 million FOB, or 32% of the total for the year. Values to the Middle East were steady on 2010, finishing at $216 million FOB, compared with a 5% decline in volumes shipped.

Lamb exports to Greater China were valued at $117 million FOB, with the 24% year-on-year increase in receipts outpacing the 15% rise in volumes. The value of Australian lamb exports to the EU reached $108 million FOB, also up 24% year-on-year. Despite the similarity in value of lamb export to these two regions, Australia exported less than half the volume of lamb to the EU as to Greater China, reflecting the much higher unit value of lamb sent to the EU.

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