Last month, Australia’s beef and lamb exports reached new highs, reflecting the nation’s growing influence in the global meat market and the global demand for Australian products.
In July, beef exports hit 129,998 tonnes, surpassing the previous record of 123,464 tonnes set in March 2015 by 5 per cent.
The USA emerged as the largest market for Australian beef and lamb, with a substantial increase in exports compared to the previous year.
Due to a slowdown in US domestic production, there has been a surge in demand for Australian imports, particularly beef, intensifying competition between Australia and the US for market share in the US, Japan, and South Korea.
Japan saw a 48 per cent rise in Australian beef imports, while South Korea experienced a 20 per cent increase.
Additionally, lamb exports demonstrated remarkable growth, rising by 21 per cent over the past 12 months, making July the second-highest month on record.
The top five markets for mutton in July accounted for 49 per cent of exports, down from 71 per cent in 2023, indicating a more balanced and resilient export strategy.
The diversification of Australia’s mutton export markets marks a strategic shift, with exports now more evenly distributed across a broader range of countries.
Despite a 30 per cent drop in exports, China maintained its position as the largest market for Australian mutton, while other markets, such as Malaysia and Saudi Arabia, showed significant growth.