Lamb exports 28 per cent higher than five year average

ACC-10The value of Australian lamb exports eased marginally (1%) in April, compared to the same time last year, to $140.3 million FOB (Australian Bureau of Statistics/Global Trade Atlas).

This was, however, 28% higher than the five-year average (2011-2015) for the month. This brought the total value of lamb exports for the year-to-date (January to April) to $572.6 million FOB – down 2% on last year.

Interestingly, the A$ traded at an average of 73.6US¢ during April this year – 3.6¢ lower than the corresponding period in 2015. Furthermore, the total volume of lamb exports increased 6% year-on-year in April, to 20,994 tonnes swt (Department of Agriculture and Water Resources).

There was, however, a shift in the composition of shipments during the month. The volume of lower value frozen lamb exports (12,349 tonnes swt) increased 9% on year-ago levels in April, while chilled lamb (8,644 tonnes swt) was up only 1%.

Compared to last year, the value of lamb shipments in April to:

  • The US declined 1%, to $44.7 million. This was 40% higher than the five-year average for April, however. The average export unit value (per kg) was $9.13 – down 13% year-on-year.
  • The Middle East increased 2%, to $39.5 million – up 49% on the five-year average. The average export unit value (per kg) was $6.39 – down 6% year-on-year.
  • China increased 17%, to $13.6 million. The average export unit value (per kg) was $3.11 – down 20% year-on-year.
  • South East Asia increased 28%, to $7.5 million. The average export unit value (per kg) was $6.11 – down 10% year-on-year.
  • The EU decreased 35%, to $4.96 million. The average export unit value (per kg) was $7.79 – up 3% year-on-year.
  • http://www.mla.com.au/Prices-markets/Market-news/Value-of-lamb-exports-ease-in-April-16062016
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