Lamb export value reaches January new high

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Australian lamb exports returned $131.5 million FOB during January 2016 – up 19% on the same time last year, and 59% higher than the five-year average (ABS). In fact, it was a record high for January in terms of both volume (17,481 tonnes swt) and value (Department of Agriculture and Water Resources; Global Trade Atlas).  

Further supporting the value of lamb exports in January was the lower A$, which averaged US70¢ for the month – down 11¢ year-on-year.

Lamb exports to the US in January generated $49.1 million – 42% higher than the corresponding period last year and more than double the five-year average, with a 23% year-on-year lift in volume for the month.

The value of Australian lamb shipments to the UAE reached $13.6 million – an increase of 34% on the same time last year, and 84% above the five-year average. The lamb unit price to the UAE averaged A$7.3/kg – up 2% year-on-year.

Lamb exports to China registered a 15% decline in value in January, compared to last year, at $8.7 million. This was also 2% lower than the five-year average for the month. Volumes to China were actually up 11% year-on-year in January (2,249 tonnes swt).

Export revenue to other markets recorded year-on-year growth in value in January:

• Japan increased 21%, to $6.6 million
• The UK increased 9%, to $6.5 million
• Jordan increased 4%, to $4.5 million
• Papua New Guinea increased 16%, to $3.3 million

Lamb export values to Bahrain (affected by the removal of a subsidy for Australian sheepmeat) and Malaysia, on the other hand, fell 67% and 6% year-on-year, to $1.3 million and $2.0 million, respectively.