Mutton Export Summary January 2024
The Australian mutton export trade has seen the strongest open to the year since 2007. There was 16,912 tonnes swt of mutton shipped offshore from Australia during January 2024, falling short of the 2007 January flows by just 3%. However, it has been an impressive start to the season with the opening total mutton export volumes coming in 25% stronger than the January 2023 result and 24% better than the five-year average levels for January.
A summary of the trade flows to the top four mutton destinations is as follows.
China – Underpinning the very strong total mutton export volumes was an impressive January opening for Aussie mutton exports to China. The start of 2024 saw a new January record with 6,358 tonnes of mutton reported shipped from Australia. This is a 17% increase on the January 2023 mutton export volumes to China and that was the previous record January trade volume. Compared to the five-year average pattern for January the current trade levels to China are nearly 41% higher.
USA – Aussie mutton flows to the USA managed to achieve their best January result since 2020 with 1,961 tonnes reported shipped. This represents a 55% increase on the trade volumes seen during January 2023 and is 6% better than the January average flows, based on the last five years of the trade. The improved start to the US demand for Aussie mutton has seen Malaysia drop back to third top destination for market share of total Aussie mutton export flows after keeping the US out of second place for the last two years.
Malaysia – Reported 1,709 tonnes of Australian mutton consigned during January 2024, which represents an 8% easing from the levels shipped during January 2023 . Despite the softer start to 2024, Aussie mutton flows to Malaysia during January still manage to come in 12% above the January average pattern, based on the last five years of trade.
Saudi Arabia – Opening trade flows for 2024 of Aussie mutton to Saudi Arabia saw the best January outcome since 2020. There was 1,181 tonnes swt of mutton exported from Australia to Saudi Arabia during January 2024, which is a 44% improvement on the January 2023 result and 42% higher than the five-year average trade level for January.