For the month of December, China remained the largest market for red meat, with exports steady at $313 million year on year. Photo: 123RF
Red meat exporters failed to tip the $10 billion mark last year due to "challenging market conditions" in early 2024, but had a strong end to the year.
In the year of 2021/2022, red meat exports hit $11bn for the first time.
The following year in 2023, exports fell 11 percent in 2023 to $10.2bn.
New Meat Industry Association statistics show exports of red meat reached $9.86bn through 2024, falling 3 percent compared to 2023.
However, the year ended on a positive with exports earning $1.04bn in the month of December alone.
Association chief executive Sirma Karapeeva said a strong December was a "positive sign" for the industry.
"This reflects a continued recovery in global demand and the resilience of New Zealand's red meat sector," she said.
For the month of December, China remained the largest market for red meat, with exports steady at $313 million year on year, while other major markets showed significant growth.
Exports to the United States surged 38 percent to $310m in December, while the UK saw a 53 percent increase to $64m, and Canada experienced growth of 116 percent to $46m.
For the year, the US surpassed China as the largest market for red meat, while other markets grew.
Exports to the US rose 12 percent to $2.77bn, while exports to second-largest market China fell by nearly a third, down 31 percent to $2.49bn.
The value of exports to the United Kingdom increased 46 percent to $525 million, to Japan up 23 percent and to Canada up 44 percent.
Weak demand in China drove a 3 percent drop in volume and value of sheepmeat exports - which was offset by record volumes going to the US, the highest volumes of sheepmeat to the UK in six years, and more to the EU too.
Beef exports dipped in volume but values remained steady at $4.39bn through the year.
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