January lamb exports strongest on record

January 2024 saw the strongest opening to the Aussie lamb export season on record with 25,173 tonnes swt reported shipped offshore during the month.

This has out performed the previous strongest annual opening by nearly 8% when we saw 23,366 tonnes of Aussie lamb shipped overseas in January 2020.

Compared to the five-year average volumes for January the open to 2024 is 34% stronger and bodes well for the rest of the year.

A summary of the top four Aussie lamb export destinations is as follows.

USA

The USA has returned to top trade destination for Aussie lamb exports in 2024 with the strongest January on record with 5,659 tonnes reported exported over the month, pipping the previous record set in 2019 of 5,593 tonnes by 1%.

The January 2024 result is a 42% gain on the January 2023 opening Aussie lamb export figure and is nearly 23% better than the five-year January average for lamb exports from Australia to the USA.

China

Aussie lamb export to China during January 2024 only showed a marginal improvement on the previous January flows with volumes up by just 2.5% to 3,558 tonnes swt, and well short of the record start set in January 2020 when 5,260 tonnes of lamb was shipped to China from Australia.

Compared to the five-year average pattern for January the current season’s trade volumes to China are 5% higher.

UAE

The United Arab Emirates are beginning 2024 in fine fashion, with Aussie lamb trade levels akin to where they finished 2023.

The January lamb export volumes to the UAE from Australia set a new January record with 2,212 tonnes reported shipped over the month.

This represents a 19% increase on the previous strongest January trade to the UAE, which was set in 2016 when 1,852 tonnes of Aussie lamb was exported. Compared to January 2023 the current export flows to the UAE are 33% stronger and is nearly 46% higher than the five-year average lamb trade volumes for January.

PNG

Papua New Guinea has also managed a record start to the year with the January 2024 lamb export flows from Australia coming in at 1,768 tonnes swt, 23% higher than the previous record set in January 2022 of 1,433 tonnes.

Compared to the five-year average pattern for January the current flows to PNG are 78% higher.