Tasmanian Lamb Exporter Halts Middle East Shipments

0:00In Adelaide, it's March 2, and here's what is going on. Tasmania's biggest lamb exporter has recalled hundreds of thousands of dollars' worth of meat headed to the Middle East. The company, Tasmanian quality meats in northern Tasmania, pulled back shipments amid rising tensions from recent U.S. and Israeli strikes on Iran. This marks the first time they've had to cancel orders to that key market. The disruption stemmed from higher trading risks and costs in the region following those attacks. Product worth a significant amount is now stuck in Melbourne, with some in transit through other countries. The business had no choice but to bring it all back to avoid spoilage, overseas, or on the mainland. Managing director Jake Oliver says they're taking a financial hit by reprocessing the lamb into frozen stock for lower-price sales. Everyone in the industry faces the same challenges, so they're scaling back operations until things calm down. Air freight for premium cuts is especially affected. Tas farmer's livestock head, George Shea notes it's too soon to predict the full fallout, but high-end products flown to the Middle East will see long.

1:08Disruptions. See shipments of frozen items are also on hold. For now, the exporter plans to freeze the return lamb and monitor the situation. Officials suggest the conflict might drag on for weeks, leaving Australian meat businesses and a holding pattern. Thanks to our sponsor for supporting today's coverage, no earbuds, no headbands, no awkward sleeping positions, just a pillow that plays your sound. S-O-L-L-I-SoliPillow.com