The value of Irish sheepmeat exports dropped for the second consecutive year in 2024, falling by 6% compared to the previous year to €400 million.
Bord Bia’s Export Performance and Prospects Report for 2024/2025, published today (Wednesday, January 8), shows that the value of sheepmeat exports is now back to 2021 levels.
The report states that the fall in export values was driven by a sharp decline in lamb throughput and a notable reduction in product availability for export as a result.
Bord Bia said that as a result export volumes fell by 23% in 2024 to total of 56,000t.
Bord Bia
According to the report, there were several factors which contributed to reduced lamb output in the 2024 season.
These included a contraction in breeding ewe numbers for the second consecutive year, some challenging weather conditions during peak lambing season and a decline in the number of hoggets and lambs being imported from Northern Ireland for direct slaughter.
Stable domestic and export demand for Irish sheepmeat helped to maintain firm deadweight lamb prices, which rose by 16% in 2024.
Although the overall volume of Irish sheepmeat exports declined in 2024, the unit price per kilogramme increased by around 18% compared to the previous year.
Bord Bia noted that a more competitive trading environment and higher unit costs also contributed to an increase in the proportion of Irish lamb exported in carcass form which stood at 45% in volume terms, up 5% on the previous two years.
Europe accounted for three quarters of total exports in both value and volume terms in 2024.
Exports to the region were valued at €305 million during 2024, down 4% from 2023 levels.
France remained the largest market with exports valued at €130 million, though 3% down from the year before.
Sheepmeat exports to the UK were similar to 2023 values at €65 million. However, growth in trade to Northern Ireland led to lower shipments to Britain.
Sheepmeat
In terms of the outlook for this year, Bord Bia said that supplies of sheep for processing are expected to remain subdued across Europe in the short term due to the contraction in the breeding ewe flock.
“While this tighter supply dynamic supports higher deadweight prices, it creates challenges when securing market returns for Irish lamb.
“Consumers in Europe continue to be highly price sensitive, and the European Commission is forecasting a 1% decrease in lamb consumption for 2025,” the report stated.
Due to economic difficulties in China, Australian and New Zealand exporters have diversified their focus to markets in Southeast Asia, the US and in the Middle East, along with the EU and UK.
“Some contraction in sheepmeat production is expected in Australia and New Zealand in 2025, with profitability concerns at producer and processor level impacting confidence in the sector,” the report added.