Lamb exports continue to generate higher returns
16 July 2015
Despite a slight year-on-year decline in the volume of Australian lamb exported in May, the value of shipments was 12% higher than the corresponding month last year, reaching $160.1 million (Australian Bureau of Statistics).
This year-on-year rise was largely driven by an increase in both the volume and value of Australian lamb shipped to the US during the month. Despite high cold storage inventories in the US throughout 2015, US buyers are reportedly still keen to secure supplies in anticipation of tighter offerings later in the year.
Demand from the Middle East remained strong, particularly from Jordan, while returns from China, Japan and UK eased year-on-year.
- Lamb export values in May to the US jumped 73% on year-ago levels, to $56.1 million
- Shipments to the Middle East returned $41.5 million, up 14%
- The value to China fell 45% year-on-year, to $10.8 million
- Volumes to Japan generated $7.1 million, 11% lower than last year
- Export values to the UK declined 27%, to $5.7 million
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