South Korea’s goatmeat demand grows
03 January 2024
Demand from South Korea for Australian goatmeat continues to grow, while demand from other markets including Trinidad and Tobago has also increased this year, new MLA data has revealed.
Goatmeat export data for January to October 2023 shows the US continues to be the largest market for Australian goatmeat.
Australia exported just over 11,329 tonnes of shipped weight (swt) goatmeat for that period to the US, up from the 10,984 tonnes swt exported to the US for the same period in 2022.
It is the largest volume Australia has exported to the US for the January to October period since 2019, when it exported 12,574 tonnes swt.
As we have seen in the last four years, South Korea's demand continues to grow year-on-year.
For January to October, Australia exported just over 5,337 tonnes swt of goatmeat to South Korea, up from 3,413 tonnes swt exported for the same period in 2022.
Exports to other key markets including Taiwan and Canada remain stable.
Australia exported 1,664 tonnes swt of goatmeat Taiwan for January to October this year, similar to the 1,713 tonnes swt exported for the same period in 2022.
Export volumes to Canada remain consistent, with 954 tonnes swt exported for January to October this year, slightly down from the 1,138 tonnes swt exported for the same period in 2022.
Price correction upside
The goatmeat price correction that has occurred over the past 12 months has seen the re-emergence of demand from old markets including Trinidad and Tobago.
For January to October, Australia exported 1,522 tonnes swt to Trinidad and Tobago, up from 952 tonnes swt for the same period in 2022, and the largest volume for the same period over the past four years.
Lower goatmeat prices have also led to a significant increase in demand from China.
Australian goatmeat exports to China have gone from almost zero to 5,500 tonnes swt for January to October this year due to the pricing. As a result, China has become the second largest market for Australian goatmeat this year.