Second prize for May
Mutton Export Summary May 2024
May 2024 saw a 15% lift in total mutton export flows from Australia from the levels seen during April 2024 with 21,664 tonnes swt reported shipped during May. This is the second highest monthly export volumes for Aussie mutton on record, coming in just 1.2% under the record month set in November 2019 of 21,929 tonnes. Compared to the five-year average for May the current trade volumes are sitting nearly 81% higher than the average trend.
China continues to dominate the mutton trade from Australia with nearly 30% of the market share so far in 2024. However, their share of the trade has dipped significantly from the 46.5% share of the trade they achieved in 2023. Indeed this is the lowest the Chinese share of the total Australian mutton export trade has been since 2017. Other notable changes to the market share has seen the USA slip from third spot to fourth spot during 2024 to sit behind Malaysia, in second place, and now also behind Saudi Arabia in third place.
A summary of the trade flows to the top mutton destinations is as follows.
China – During May 2024 mutton exports from Australia to China increased by 11% from the levels seen during April. There was 5,363 tonnes swt reported shipped over May to China. levels that are 17% above the May average, according to the last five-years of the trade. While current flows are above average to China they are running 38% below the levels seen this time last year.
Malaysia – There was 2,365 tonnes of Australian mutton shipped to Malaysia in May 2024, which is a 26% gain on the volumes sent during April 2024. Compared to the five-year average trend current volumes are equally firm running 38% above the May average levels.
The Others – Australian mutton exports to other destinations have climbed steadily through 2024 and have reached 13,935 tonnes swt in May. This is a 14% increase in the volumes shipped during April 2024 and represent trade levels that are 144% higher than the average flows seen during May, based on the last five-years of the mutton trade.