17 Feb 2026 New Zealand Meat Board tariff savings soar to almost $1.4 billion

The New Zealand Meat Board (NZMB) now oversees $4.2 billion of red meat exports to the quota markets of the European Union, United Kingdom and United States, meaning tariff savings of almost $1.4 billion a year for the sector, attendees were told at the Board’s Annual Meeting.

The results, based on free on board (FOB) returns to the year ended 30 September 2025, represent a 35.5 per cent increase for export values and a 59.2 per cent increase in tariff savings compared to the same period in 2024.

The board now manages 10 country-specific tariff rate quotas. These include New Zealand’s longstanding World Trade Organization (WTO) quotas, the United States and the more recently negotiated Free Trade Agreement quotas covering beef, sheepmeat and goatmeat products to the European Union and the United Kingdom.

“As we look back on the last year, it’s clear that the Board continues to provide stability and confidence for the red meat sector in what remains a highly unpredictable global environment,” said NZMB chair Kate Acland.

“Market volatility, shifting demand patterns and strong pricing in key export markets have again highlighted the importance of New Zealand’s high-quality market access and the robust systems that sit behind it. 

“Exports of red meat to quota markets managed by the Board represent a 46 per cent share of New Zealand’s total red meat exports by value in the seasonal year to 30 September, up 40 per cent from 2024.

“In a year when market conditions in China have been weaker than previous years, this diversified access continues to underpin the resilience of the sector.

“Stronger use of lamb quotas and higher demand in New Zealand’s traditional markets largely offset the reduced demand in China.

“Demand for New Zealand beef in the US again reinforced the value of this longstanding quota market, along with strong interest developing in the UK and the EU markets for New Zealand beef.”

NZMB chief executive Nick Beeby said that throughout the year the Board had also focused on strengthening systems and governance, including a detailed review of processes and system administration.

“Work is underway on a rebuild of the Board’s legacy quota management system. This will future proof the quota management function, replacing aging infrastructure with a more secure and modern digital platform.”

Quota utilisation had increased in the 2025 year to 31 December and has started strongly in 2026.

“This increasing utilisation shows the importance of New Zealand maintaining our current market access conditions in times of global trade volatility and the benefit that optionality of markets provides to our sector.”

The NZMB also administers significant farmer reserves. As of 30 September 2025, its managed investment portfolio carried a market value of $98.6 million. 

This includes a contingency fund of $69.8 million to help New Zealand re-enter export markets in the event of a biosecurity incursion or disruption in quota markets.

Interest from this fund is used, in consultation with sheep and beef farmers, for industry-good projects. 

During 2025, the Board provided $1.4 million for the Eliminating Facial Eczema Impacts (EFEI) programme. 

This funding is helping EFEI drive major productivity gains behind the farm gate for thousands of sheep, beef and dairy farmers across the country.

The meeting was held on Wednesday 4 February.

For more information, please contact:
Sam Halstead
027 474 6065
sam@latitudesc.co.nz