Australian lamb exports smash monthly record for August

Australia exported a record amount of lamb in August, with a leading analyst saying it is evidence of growing demand from major foreign markets including the US. Australian lamb exports totalled 26,196 tonnes last month — the highest August trade volume on record — according to data from the Department of Agriculture, Fisheries and Forestry. Thomas Elder Markets analyst Matt Dalgleish said the figure was 13 per cent higher than the previous record in August last year. “Compared to the five-year average for August, current volumes are 32 per cent above trend, signifying some solid growth in lamb demand from offshore consumers,” he said. “The data shows that the USA continues to favour Aussie lamb but other export destinations are gaining pace too, pushing the total lamb trade volumes to uncharacteristically strong levels for this time in the year.” Exports to the US — the biggest importer of Australian lamb — rose 9 per cent over August to reach 7070t, with year-to-date figures 27 per cent above the five-year average. “The USA continue their stellar run … and while this is still a fraction short of the 7219t seen in August 2021, it is still 56 per cent higher than the August average set over the last five years,” Mr Dalgleish said. “Over the same time period last season, (year-to-date) flows to the USA were 23 per cent above the average trend, demonstrating that the USA continues to be a growth market for Aussie lamb.” Exports to China — the second biggest importer of Australian lamb — were 15 per cent above the August average and up 11 per cent from July. Mr Dalgleish said it was the first time this year Australian lamb exports to China had lifted above the average pattern after “somewhat lacklustre” demand from China in the first half of the year. He said Australian lamb exports to other destinations — including key markets such as Papua New Guinea — saw “a good pickup” in August, up 24 per cent from July and nearly 30 per cent above the five-year average for the month. WA exported 2972t of lamb in August, up 475t compared to the same month last year. All other States recorded higher lamb export figures this August compared to last, except for South Australia and Queensland. WA is Australia’s fourth biggest exporter of lamb by State, with Victoria in first place, NSW second and South Australia third. Other major importers of Australian lamb include the Middle East, South Korea, Canada, Japan and Europe.