There was 31,052 tonnes of Aussie lamb product exported during February 2024, pushing the current month to a new February record. The previous best February result was the 25,082 tonnes seen shipped in February 2019.
January started 2024 in a very strong fashion but February managed to see a further 23% increase in total lamb export trade volumes and places February 2024 36% higher than the five-year average for February. In a great sign for 2024 all four top trade destinations for Aussie lamb are running above average demand levels.
A summary of the top four Aussie lamb export destinations is as follows.
USA – There continues to be strong demand for Aussie lamb shown from US consumers with February reporting 7,529 tonnes swt consigned. This places February 2024 as the strongest February on record for lamb exports from Australia to the USA, beating the 7,023 tonnes shipped in 2019. Flows seen in February 2024 are sitting 27% above the five-year average pattern for February.
China – Australian lamb exports to China during February are running 22% above the five-year average seasonal pattern for this time in the year with 5,215 tonnes reported shipped over the month. This represents a 47% increase from the volumes exported to China during January 2024 and is 15% stronger flows than what was seen during February 2023.
UAE – Demand for Aussie lamb from the United Arab Emirates remains in great shape with a 16% increase on the January figures (which were already coming from a very strong base). February saw 2,558 tonnes swt of lamb exported to the UAE from Australia which is 64% higher than the five-year average for February.
PNG – Lamb exports from Australia to Papua New Guinea declined marginally over February to ease by 12%. There was 1,548 tonnes exported to PNG over February 2024 from Australia and despite the weakening trend these volumes are still 15% above the five-year average for February lamb export flows to PNG.
This article originally appeared at Episode3. Republished with permission.
