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UK sheep meat exports lower in January
Wednesday, 17 March 2021
As of January 2021 data, the way HMRC collects trade data has changed, which will be reflected in the trade statistics. Comparisons between this and historic data should be treated with caution, and may well be subject to future revisions.
The latest HMRC trade data for January shows that UK exports of fresh and frozen sheep meat fell by 45% year-on-year to 3,800 tonnes.
Tighter domestic supplies, higher GB lamb prices, lower European foodservice demand and post-Brexit trade friction around shipments into the EU would all point to some decline in UK sheep meat exports. These figures will be watched closely as more trade data is released.
Exports did grew to Asian and Middle Eastern markets, including Hong Kong, United Arab Emirates and Kuwait, but this was not enough to outweigh losses to the EU.
Imports
The UK imported nearly 4,000 tonnes of fresh and frozen sheep meat in January, stable compared with the same month a year ago.
Despite imports from the UK’s top two suppliers, New Zealand and Australia, growing by 13% and 15% year-on-year respectively, a drop in shipments from Ireland (-56%) offset this. Imports also reduced from smaller European suppliers, including Germany, France and Spain.
The gap between GB and New Zealand prices has widened significantly over the past few weeks, a potential draw for more imports, especially given the tight GB supply situation at present. Reports of New Zealand exports in January and February however, suggests shipments could be lower to the EU and UK during the coming weeks (given shipping times), as more product is sent to China. This could spell further support for domestic farmgate prices.
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