Australian lamb export values in February reached $152.9 million FOB, fairly similar to the corresponding period last year, although still 22% above the five-year average (ABS/Global Trade Atlas).
In February, the average unit value for Australian lamb exports was $6.24/kg – down 17% on year-ago levels, and 2% on the five-year average ($6.40/kg).
A higher than anticipated A$ also contributed to firmer export values, averaging 71US¢ in February – although still remains 7¢ below the corresponding period last year.
Looking at the major export markets in February, comparing year-on-year, revenue from;
- The US increased 15% – to A$57.8 million
- The UAE increased 19% – to A$12.9 million
- China decreased 31% – to A$12.5 million
- Japan decreased 13% – to A$6.2 million
- The UK decreased 59% – to A$3.5 million
Lamb export values to Papua New Guinea and Malaysia in February decreased 16% and 11% year-on-year, to A$3.6 million and A$4.3 million, respectively. With an increase in volume during the month, the export value to Jordanincreased 22% on year-ago levels – at A$5.6 million.
Australian mutton export values in February decreased 3% year-on-year, at $67.8 million FOB – still 13% higher than the five-year average.
Similar to lamb, unit values for mutton exports also decreased (7%) year-on-year – averaging $4.20/kg
In comparison to the same month the year prior, mutton export values to;
- China declined 52% – to A$6.4 million
- Malaysia increased 30% – to A$8.5 million
- The US declined 5% – to A$8.4 million
- The UAE increased 18% – to A$5.7 million
- Saudi Arabia declined 44% – to A$4.7 million
Encouragingly, mutton export values to Singapore recorded a 21% jump year-on-year, generating over A$4.5 million. Both volume and unit value also increased for the month, up 41% and 35%, to 853 tonnes swt and $4.89/kg, respectively.