Australian mutton export values decline
16 July 2015
The value of Australian mutton exports in May totalled $55.1 million – back 10% (or $5.8 million) year-on-year.
Gross export values have come off the boil in 2015, largely as a result of lower Australian mutton production (back 32% year-on-year), as sheep supplies continue to tighten.
Global demand factors have also come into play, with high inventories of local and imported sheepmeat seeing the US and China pull back considerably. However, demand has remained strong from the Middle East, with notable growth in the gross value of markets such as Saudi Arabia, Kuwait and Oman.
Although mutton export values to Malaysia registered a 24% rise in May, lower values to other South East Asian markets, such as Singapore, more than offset these gains.
- Mutton shipments to the Middle East returned $21.6 million, 32% greater than the corresponding month last year
- Export values to South East Asia eased 7% year-on-year, totalling $10.5 million for the month
- The value of mutton exports to China slipped 53% year-on-year, to $6.5 million for the month
- After registering considerable growth early in the year, the US has taken lower mutton volumes in recent months, with values back 42% year-on-year, to $2.8 million in May
- Interestingly, although the gross value of mutton exports to the US has declined, the unit price in May was 20% higher year-on-year, at A$7.1/kg. This is likely a result of higher sheep prices and a lower Australian dollar.
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