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Goatmeat exports surge in Q1

14 June 2022

Australian goatmeat exports for the first quarter of 2022 are up 58% compared to the first quarter of 2021, new MLA data has revealed.

Australia exported a total of 6,450 tonnes shipped weight (swt) of goatmeat in Q1 this year, compared to 4,084 swt in Q1 of 2021.

It follows on from a strong Q4 of 2021, when total Australian goatmeat exports reached 6,451 swt.

The increasing volumes are being driven by strong global demand for more product in all key export markets including the United States, Korea, Taiwan, Canada, Trinidad and Tobago and Japan.

South Korea is now Australia’s fastest growing goatmeat export market by value and volume, more than doubling its Australian goatmeat imports in 12 months.

In Q1 this year, South Korea imported 843 swt of Australian goatmeat, a 114% increase on the 394 swt it imported in Q1 2021.

The value of exports to South Korea is expected to further increase under the Korea–Australia Free Trade Agreement (KAFTA), which will see import tariffs drop to 2.2% this year and 0% in 2023.

The United States remains our biggest market, importing 4,268 swt of Australian goatmeat in Q1 this year, representing a 50% increase on the 2,874 swt imported in Q1 2021.

Taiwan is our third largest export market, taking 561 swt in Q1 this year, an increase of 63% on the Q1 2021 volume of 344 swt.

Exports to Canada increased 98% from 229 swt in Q1 2021 to 454 swt in Q1 2022, while exports to Trinidad and Tobago increased 92% from 99 swt in Q1 2021, to 190 swt in Q1 2022.

Data for Q2 to date shows total Australian goatmeat exports in April reached 1,933 swt, down from the March total of 2,511 swt, but higher compared to the April 2021 volume of 1,234 swt.

Export prices has been trending upwards since the beginning of 2021, reaching a peak of AU$15.09/kilogram in January 2022.

The tight Australian supply in the past years and the stabilisation of foodservice channels in major markets have created a need to meet consumer demand.

Australia is well-positioned to meet growing market demand because it comfortably dominates the goatmeat import market share of the key export markets and has favourable market access.