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UK sheep meat trade declines in February
Thursday, 15 April 2021
By Bronwyn Magee
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 data from HMRC shows traded volumes of sheep meat remained lower year-on-year in February. For a wider look at the latest agri-food trade data and impacts of EU-exit, read our analysis here.
Exports
UK exports of fresh and frozen sheep meat fell 24% year-on-year in February to 4,600 tonnes, according to the latest HMRC trade data.
Exports to the EU fell by 32%, to 3,800 tonnes. This comes as domestic supplies remain tight, which is lending support to the higher GB prices we are seeing currently. In recent weeks, the average domestic price has exceeded the average prices in France, whichpoint towards a decline in exports. This will be watched closely as more trade data becomes available.
Meanwhile, exports to Hong Kong lifted noticeably, up 380 tonnes year-on-year, although this was not enough to outweigh declines elsewhere.
Imports
Import volumes also fell year-on-year, although not to the same extent as exports. The UK imported 2,900 tonnes of fresh and frozen lamb in February, 8% less compared to the same month last year.
While total import volumes fell, shipments from both New Zealand and Australia lifted year-on-year, up 11% (170 tonnes) and 17% (110 tonnes) respectively. This comes as the gap between GB and New Zealand prices has notably widened in recent months, which combined with a tighter domestic supply, could be drawing more imports.
This overall decline was driven by lower shipments from Ireland, down by 430 tonnes (-68%) on the same month last year. Imports from other smaller European suppliers such as the Netherlands, as well as Argentina lifted on the year, although this was outweighed by losses from Spain, France and Germany.
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