Persistent dry conditions and reduced supply saw Australian goatmeat exports in 2018 decrease to their lowest levels since 2008, according to Meat & Livestock Australia's (MLA) latest Goatmeat Global Snapshot.
The Goatmeat Global Snapshot, which provides insights into the opportunities and challenges for the industry, shows the value of Australian goatmeat exports totalled $182.6 million in 2018, down 29 per cent on 2017.
MLA Goat Industry Project Manager, Julie Petty, said despite the decrease in supply and Australia accounting for only 1pc of global production, Australia remains the largest exporter of goatmeat.
"Australia exported approximately 90pc of production in 2018, with exports totalling 21,026 tonnes shipped weight - a decrease of 26pc from 2017 levels," Ms Petty said.
"The United States received 68pc of our exports, with Taiwan, South Korea, Trinidad and Tobago, and Canada also representing important markets.
"As a result of tough seasonal conditions combined with a 7pc year-on-year fall in average carcase weights in 2018, Australian goat production last year totalled 23,388 tonnes carcase weight (cwt), 26pc lower than 2017 figures, while goat slaughter fell by 20pc year-on-year to 1.65 million head in 2018."
Ms Petty said while the prospects for exports are positive, challenges remain in key markets.
"Goatmeat is widely consumed globally but remains a niche protein in many markets. Per capita consumption of goatmeat varies greatly between countries, with culture and local production being major factors influencing diet," Ms Petty said.
"Population growth and increasing household wealth underpin a positive outlook for global red meat consumption, however new consumers being unfamiliar with goatmeat remains a barrier for growth."
Ms Petty said the Australian goatmeat industry has seen substantial growth over the past two decades with production tripling since the turn of the century, underpinned by export demand and solid prices.
"Goat over-the-hook prices have steadily increased over the past few years, from 371c/kg cwt at the start of 2015 to a peak of 683c in July 2017. While 2018 saw a price correction, prices remained above the five-year average for the entirety of 2018, averaging 513c/kg," Ms Petty said.
To read the snapshots, click here.