Australian beef and veal export values to South Asia reached a record high during the past fiscal year, increasing 13% year-on-year and 53% on the five-year average, at A$755 million (Global Trade Atlas).
The improved returns coincide with record export volumes to the region, with shipments up 6% from the previous year.
Underpinning the overall growth in export values was a 33% year-on-year rise in returns from Taiwan, which reached A$206 million – a result of record beef and veal exports for the same period.
Export values to both Singapore (A$78 million) and Hong Kong (A$76 million) also increased over the same period, rising 21% and 41% year-on-year, respectively.
However, difficult and uncertain trading conditions resulted in a decline in export values to Indonesia, with returns falling 6% year-on-year, to A$168 million.
Australian lamb export values to South Asia also set a new record during 2011-12, at A$183 million - 6% higher year-on-year and 55% above the five-year average.
This was underpinned by a 13% rise in lamb export volumes over the same period.
Despite a 2% and 12 % decrease in export values to Malaysia (A$25 million) and Hong Kong (A$21 million) respectively, a 13% improvement in export returns to China helped to offset any falls, with exports to China valued at A$85 million.
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