Sheep meat ex­ports are ris­ing

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THE value of Aus­tralia’s sheep meat ex­ports has in­creased 24 per cent year on year, driven by the value of lamb ex­ports in­creas­ing by more than 20 per cent when com­pared with 2016 fig­ures, ac­cord­ing to Ru­ral Bank’s lat­est Aus­tralian Sheep Up­date. Com­piled by Ru­ral Bank’s spe­cial­ist in­sights team, the up­date re­veals the value of sheep meat ex­ports is trend­ing higher in 2017 due to strong gains in ex­port unit prices and a small in­crease in ex­port vol­umes. This was cer­tainly the case with the Chi­nese mar­ket, where im­proved unit prices and a 31 per cent in­crease in vol­ume has led to the value of Aus­tralian sheep meat ex­ports track­ing 61 per cent higher in 2017.

“With av­er­age to above av­er­age rain­fall fore­cast for the rest of the year and the Bu­reau of Me­te­o­rol­ogy ex­pect­ing Oc­to­ber to be wet­ter than av­er­age in east­ern states and South Aus­tralia, things are look­ing good for pro­duc­ers,” Agribusi­ness for Ru­ral Bank gen­eral man­ager An­drew Smith said.

PHOTO: FILE

MAR­KET: The value of lamb has in­creased 20 per cent com­pared with 2016 fig­ures.

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