16 August 2012

2 minute read

Oceania

In what was a difficult year for Australian exporters, with increased competition in traditional markets, sluggish consumer demand and sentiment, as well as an A$ which averaged five per cent higher year-on-year (103US?), the higher returns overshadow a difficult global trading environment. Nonetheless, the overall average per tonne value increased two per cent on the corresponding period last year, to A$4,951/tonne.

Despite remaining the first and third most valuable markets, respectively, export values to both Japan (A$1.58 billion) and Korea (A$654 million) declined six per cent and eight per cent year-on-year, with shipments throughout the same period easing 7 per cent and 12 per cent, respectively.

A 28 per cent rise in export volumes to the US during 2011-12 helped underpin the 26 per cent increase in export returns, which reached A$895 million. While the surge in volumes sent to the US has been a positive for exporters, the majority of product shipped has been manufacturing beef. As a result, the value per tonne eased two per cent year-on-year, averaging A$4,360/tonne.

While taking predominantly lower valued product, export values to Combined Independent States (mostly Russia) finished 2011-12 as the fourth most valuable market, despite returns falling 28 per cent year-on-year, to A$210 million – in line with a 35 per cent reduction in export volumes. Record shipments to Taiwan (20 per cent higher year-on-year) over the same period underpinned a 33 per cent improvement in export values, which totalled A$206 million, with returns per tonne averaging A$5,450/tonne.

Despite ongoing economic uncertainty, the EU continues to be the most lucrative for Australian exporters, with the value per tonne during 2011-12 increasing three per cent year-on-year, averaging A$10,133/tonne.

TheCattleSite News Desk