Australia's red meat exports are set to break records in 2024-25, according to the latest data from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
The boost of red meat exports is forecast to push the overall value of agriculture, fisheries and forestry to $94.3 billion, the second-highest on record. This achievement was underpinned by a range of support and assistance provided by the Albanese Labor Government.
Australian beef and veal exports are set to reach an expected $13.9 billion in 2024-25. This is a 12 per cent increase from the previous record set in 2023-24. The United States was the largest destination market for Australian beef and veal, worth $3.3 billion in 2023-24; followed by China worth $2.2 billion and Japan worth $2 billion.
Exports in 2024-25 are being driven by strong demand from the United States, Japan and South Korea. Lower supply from the United States is promoting improved prices and competitiveness for Australian producers in international markets, with producers responding with higher turn-off.
Australian lamb and mutton exports were the highest on record in 2023-24 by a large margin. The United States was the largest market for lamb, while China remained the largest market for mutton. The largest increase across both lamb and mutton exports was to the Middle East and North Africa region.
Australian beef and sheep meat producers are directly benefiting from the Albanese Labor Government's steady hand on the trade policy tiller.
Sustained engagement and advocacy has led to positive developments with our largest trading partner - China. This includes lifting of suspensions on eight Australian meat export facilities. Red meat exports to China remain well above long-term averages, valued at $3.1 billion in 2023-24.
The trend of exporting more sheep meat to the Middle East is expected to rise further after the Albanese Government signed a trade deal with the United Arab Emirates that will slash tariffs to zero for red meat exports.
International demand for Australian meat has been strong, helping to lift livestock prices and exports, while good production conditions in the last few years have meant high availability of livestock.
Strong crop yields across much of New South Wales, Queensland and Western Australia has also bolstered national winter crop production in 2024-25 thanks to favourable seasonal conditions, up by 7.7 million tonnes compared to last year.
Quotes attributable to Minister for Agriculture, Fisheries and Forestry, Julie Collins MP:
"The results from this quarter's forecasts show that Australia's farmers are still punching above their weight. Our Government is proud to be backing our farmers to succeed.
"It's especially heartening to see demand for our red meat increase. It shows there is room for these markets to grow and improve.
"In 2023-24, Australia exported over 70 per cent of its agricultural, fisheries and forestry production to 169 markets globally - the most diversified trade has ever been. This is thanks to our Government, and we'll continue to strengthen our trading relationships so Australian farmers get their best deal for their hard work."
Quotes attributable to Minister for Trade and Tourism, Senator the Hon Don Farrell:
"I'm pleased that Australian farmers are benefiting from all their hard work to be world leaders of sustainable meat production
"The Albanese Government will continue to support Australian producers, farmers and exporters to expand their overseas markets
"Every product we export to the world translates to thousands of Australian jobs, more opportunities for our businesses, greater investment to build things here in Australia, and cheaper bills for Australian households."
