Red meat exports hit new records

Australia’s beef and veal exports have reached $13.9 billion in 2024–25, driven by strong demand from the United States, Japan and South Korea. This is 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.

Australian beef and veal exports increased 12% 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.

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.

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 federal government signed a trade deal with the United Arab Emirates that will slash tariffs to zero for red meat exports, according to a statement by Minister for Agriculture, Fisheries and Forestry Julie Collins.

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.

“In 2023–24, Australia exported over 70% 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,” Collins said in a statement.

The Minister for Trade and Tourism, Senator Don Farrell, said, “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.”

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