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ANALYSIS: New Zealand's Beef Exports in 1H 2024, Balancing China's Decline and US’s Growth

In 1H 2024, New Zealand’s beef exports totalled 287,509 metric tonnes (mt), posting a modest 1.5% gain or 4,182 mt compared to the same period last year, data from Stats NZ indicated. 

Most of this growth were led largely by increased allocations to the United States (US), Canada and Japan, while sharp declines were noted to the Chinese market. The undersupplied US market has been a solid destination for New Zealand’s beef as China demand’s falters, taking up the lion’s share of the country’s exporting capacity. 

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