Sheepmeat
Over the past decade, the South East Asia and Greater China region has sought increased volumes of Australian sheepmeat.
Red Meat Market Report
- Australian lamb exports to Greater China (China, Hong Kong and Taiwan) reached a record in 2009, with strong demand for breast and flap continuing to be the major driver in the market, accounting for almost two thirds of total shipments.
- Continued strong economic growth in China through the global financial crisis and the expansion of the middle class has contributed to the rise in demand for lamb as an alternative source of protein.
- Hong Kong and Taiwan recorded negative GDP growth in 2009 and, despite higher prices, demand for sheepmeat was resilient.
- The tight global supply of sheep and lamb resulted in a shortage of lamb cuts, and therefore mutton was imported to satisfy demand for hot pot style dishes.
- Australian mutton exports to Greater China followed a similar pattern to lamb, with a record year in 2009. Again, breast and flap was the most popular cut.
- The Chinese yuan averaged higher against the A$ in 2009 compared with 2008 even though it depreciated sharply after February as the A$ strengthened against the weaker US$, which the yuan is pegged to.
Read the latest South East Asia and Greater China sheep Red Meat Market Report
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