Mutton export values increased 16% year-on-year during May, to $30.4 million FOB (Global Trade Atlas), largely supported by a 48% increase in export volumes and a decline in the value of the A$.
The Middle East remained the leading export destination in May, increasing 25% on last year, to $17.3 million FOB, bringing total market share to 58%.
Within the region, Saudi Arabia continued its strong demand, reaching $4.2 million FOB, while the UAE totalled $3.8 million FOB, as preparations for the Ramadan period commenced.
Export returns from China have also shown substantial growth since last year, increasing 132% to $2.1 million FOB in May 2012.
This is a promising sign for the mutton industry, as China continues to post strong demand throughout 2012, accounting for 7% of the overall market value.
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