The value of Australian lamb exports increased by 6pc during 2007-08, as growing shipments and strong demand from most markets helped to offset the impact of the stronger Australian dollar on export prices.

According to Meat and Livestock Australia, figures from the Australian Bureau of Statistics show that shipments for 2007-08 were valued at a record A$824 million (free on board) – a rise of 200pc since 1997-98.

MLA says the US continues to be the most lucrative lamb export market, making up 37pc of total returns.

But exports to the US for 2007-08 were valued at A$308m, down $3.09m on 2006-07 and $314m down on 2005-06.

MLA reports that the high Aussie dollar constrained export prices in 2007-08.

However, despite the decline in returns for the past two fiscal years, export values to the US over the past 10 years have increased 251pc.

The value of Australian lamb exported to the Middle East increased for the fourth consecutive fiscal year, up 17pc to $97m in 2007-08, with the majority of the growth attributable to the United Arab Emirates ($61m).

Closely behind the Middle East in value terms was the EU, with a much smaller volume of lamb exports, limited by quota restrictions, valued at $88.5m.

Significant export returns during 2007-08 were also recorded from Japan ($54m), China ($43m) and Canada ($39m).