The export trade for Welsh sheep and beef products smashed all previous records in 2011 to stand at almost a quarter of a billion pounds.
"This is a staggering achievement, and one in which everyone involved with our great industry can feel very proud," said Dai Davies, Chairman of red meat promotion agency Hybu Cig Cymru.
"Exports have proven to be of enormous benefit to the Welsh red meat industry, pumping much needed earnings into the under-pressure Welsh economy."
Figures released by HCC on the opening day of the Royal Welsh Show reveal that the value of Welsh Lamb and Welsh Beef exports alone, at £200 million, is £53 million higher than the corresponding figure in 2010.
Add to that a further £40 million gained by the Welsh economy through the export of sheep skins, cattle hides and offal, and the total value of exports in 2011 is £240 million.
"HCC has been aggressively marketing our products overseas, emphasising its high quality and branding it as a premium product. That approach has paid off handsomely," said Mr Davies.
"For example, Welsh Beef sales abroad have nearly doubled in a year from £35 million to £67 million.
"The huge boost in the value of exports has been fuelled by an increased demand from established markets in Europe coupled with the opening up of new opportunities in Scandinavia and Canada.
"HCC is also pressing ahead with efforts to export our products to China, Russia and the United States," said Mr Davies.
"This is because Welsh Lamb is no longer seen as simply a British or even a European label.
"Welsh Lamb is now a global brand, known throughout the world for its quality and superior taste.
It not only represents all that is best about our farming industry - it also flies the flag for Wales across the world.
"In short everyone - farmers, processors and butchers - are giving the public what they want; a world class, high quality, premium product that is simply delicious."
Mr Davies said the Royal Welsh Show itself played an important role in selling Wales to the world.
"An increasing number of overseas visitors don't come here purely to enjoy the hospitality and friendliness of the show.
They are also here to do business, which is a very welcome development for HCC and Wales' exporting companies.
"This year is no exception. For example, I know that there will be businessmen and politicians attending the show from several European countries and further afield, including the United States."
But Mr Davies emphasised that while overseas success was something to be celebrated, it was important that the domestic scene was not overlooked.
"Here in Britain is where the majority of Welsh Lamb and Welsh Beef is consumed, which is why we are devoting so much time and effort into promoting it," he said.
"We have launched a new advertising campaign under the ‘Quality Time' banner, which includes television, quality national consumer magazines and online activity.
"Glossy recipe booklets, posters and other point of sale material have been produced both for multiple retailers and for independent butchers.
"I believe it is this co-ordinated approach - with farmers, processors and retailers all working together with HCC - that is the key to all our success. Long may it continue!"
Deputy Minister for Agriculture, Food, Fisheries and European Programmes, Alun Davies, said: "I am very pleased to hear that Welsh Lamb and Welsh Beef have reached these record sales.
"This is a fantastic achievement, and these figures are so important to our economy in a difficult time.
Welsh meat is a symbol of Welsh identity and part of our culture, and I am so proud that this top quality product is being enjoyed all over the world.
"HCC has played a vital role in reaching this goal and I applaud their work in this area.
The Welsh Government remains committed to promoting Welsh meat and strengthening the Welsh food industry as a whole."