Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.
The Meat Industry Association have reported that monthly meat exports have broken the $1 billion mark for the first time in March after exporters successfully diverted trade away from China whilst it dealt with Covid-19. The March exports for red meat were worth $1.1 billion, up 12% from the year prior. Sheep meat export volumes rose 4% and 13% in value compared to the year before, whilst beef exports rose 3% in volume and 14% in value. Chief Executive Sirma Karapeeva reports that the results were achieved despite major supply chain disruptions and the shutdown of food service, particularly in China, which shows the flexibility and agility of New Zealand’s processing and exporting companies. Total exports to all countries were up 3.3%, however imports were down 28%. Over the lockdown period in China, the cumulative value of exports sent was $3.6 billion, $512m less than for the corresponding period in 2019 showing the impacts of the shutdown period.
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