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New Zealand's free trade agreement with the European Union (NZ-EU FTA) entered into force on May 1, 2024. For beef products, this would start with a duty-free quota of 12,000 MT CWE on entry, growing to 38,820 MT CWE in equal annual instalments, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report. Recent focus by industry has been directed at beef and veal exports to the EU, which face a significant challenge with the introduction of the European Union Deforestation-free Supply Chain Regulations (EUDR), which was supposed to start on 31 December 2024. These regulations will apply to beef and leather products, requiring exporters to the EU to demonstrate that their products are sourced from deforestation-free supply chains. New Zealand exporters must provide evidence that products from cattle are not linked to land deforested after 2020, spanning the entire lifespan of the animals. Although the EUDR aims to target at-risk exp

The USDA Foreign Agricultural Service post in New Zealand has revised down its forecast for beef and veal exports in 2024 MY from the USDA Official to 690,000 MT CWE, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report. This still represents the largest volume of beef and veal exported in a single year for New Zealand. The revised forecast is due to the slightly lower than anticipated beef production in the first half of the MY. In addition, exports in May and June being less than anticipated, primarily due to a decrease in demand from China for New Zealand beef. In the first seven months of the 2024 MY, export volumes to China are down 26% year-on-year (less 42,946 MT CWE). This has had a substantial impact, as China, in 2023, was the largest customer by volume (37% of total volume). Feedback from the industry is that this reduction is a result of economic challenges resulting in Chinese markets sourcing cheaper beef and v

World trade will take the biggest leap since 2013. The price is 23% lower than in June 2022 Where would the country rank as an exporter?