LAMB export values in early 2016 were lower for a higher volume than was exported in the same period last year, indicating exporters’ prices were not as strong as last year, Meat and Livestock Australia has reported.
The total value of Australian lamb exports in the first three months of 2016 was $433.8 million (free on board) – back 2 percent on the same time last year, but still 38pc above the five-year average for the period. Export volumes during the first quarter were 6pc higher than last year.
MLA said weaker buying power in the Middle East, linked to low oil prices, and difficulties in moving shoulder and forequarter meat in China and Malaysia were notable obstacles to trade.
From January to March this year, the $A traded at an average of US72 cents – 7 cents lower than the same time last year, and 24 cents below the five-year average.
Considerable increases in the value of shipments to the United States, UAE and Jordan were not quite enough to offset the year-on-year declines to most other major destinations during the March quarter, MLA said.
The value of lamb exported to the US lifted 15pc to $161.8 million, UAE export value rose 14pc to $38.2 million and exports to Jordan rose 11pc in value to $18.5 million. However, the value of exports to China fell 29pc to $32.9 million, Japan imported lamb valued at $18.8 million, down 10pc, and UK imports fell 32pc in value to $14.4 million.
Mutton export value hit by China and Saudia Arabia slump
MLA said Australia’s mutton exports generated $183.7 million for the March quarter – a 13pc decline on the corresponding period last year and 17pc higher than the five-year average.
Compared to last year, mutton shipment returns for the January to March period rose by 4pc to $25.3 million to the US and by 3pc to $22.3 million to Malaysia. The value of shipments to China fell 50pc to $18.9 million. Exports to Saudia Arabia fell 46pc in value to $14.7 million and the value of mutton exported to the UAE dropped 8pc to $14.7 million.