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December pork exports totaled 267,132 metric tons (mt), slightly below last year’s large volume, while value increased 1% to $771.8 million. These results pushed the full-year volume to 3.03 million mt, up 4% from a year ago and topping the previous high (2.98 million mt) reached in 2020. Export value totaled $8.63 billion, up 6% from the previous record set in 2023.
In addition to Mexico, pork exports achieved annual volume and value records in Central America, Colombia, New Zealand, Malaysia, and several Caribbean markets. Value records were reached in South Korea, Australia, and the Dominican Republic.
Pork exports to Mexico totaled 1.15 million metric tons in 2024, up 5% from the enormous total exported in 2023. Export value climbed 10% in 2024 to $2.58 billion – more than doubling since 2020.
Colombia’s demand for U.S. pork reached new heights in 2024, with exports soaring 26% to 142,035 mt, far exceeding the previous record (106,456 mt) reached in 2021. Export value jumped 32% to just under $360 million, shattering the previous (2023) high of $272 million.
Region-wide growth also pushed pork exports to Central America to an annual record in 2024, with shipments climbing 21% to 166,086 mt, valued at $522.9 million (up 29%). Exports to the region were nearly 30,000 mt above the previous year’s record, and value was more than $117 million above the previous record.
Despite a fourth quarter slowdown, pork exports to South Korea achieved an annual value record of $727.9 million, up 15% from 2023. Export volume was the second largest on record at 214,429 mt, up 12%, as Korea surpassed Canada as the fourth largest destination for U.S. pork.
Fueled by an increase in U.S. market share in both Australia and New Zealand, exports to Oceania increased 29% from a year ago to 102,747 mt – the largest since 2019 and second largest on record. Export value soared 32% to a record $374.8 million.
A solid performance in the Dominican Republic (DR), newfound demand in Cuba, and records to the Leeward-Windward Islands, Netherlands Antilles, Trinidad and Tobago, and Turks and Caicos pushed pork exports to the Caribbean to a record 127,237 mt, up 5% from a year ago, while value climbed 7% to a record $380.6 million.
Record shipments to Malaysia and strong growth in the Philippines pushed pork exports to the ASEAN to 76,579 mt, up 19% from 2023. Export value increased 13% to $169.2 million. Exports to the Philippines increased 19% to 60,259 mt, valued at $120.8 million. Shipments to Malaysia increased 51% in both volume (7,796 mt) and value ($24.6 million), as imported pork continues to help offset lower domestic production – resulting from African swine fever – at a time of growing pork demand.
Despite the persistently weak yen, Japan’s demand for U.S. pork held fairly steady in 2024, with volume down 2% year-over-year to 336,692 mt, while value fell 1% to $1.38 billion as the market adjusted to taking more frozen pork and less chilled, due in part to the exchange rate.
Although pork exports to China/Hong Kong trended lower in 2024, China’s demand for pork variety meat regained momentum in the second half of the year. Total exports to the region were down 6% to 467,227 mt, while value fell 10% to $1.14 billion. This included 321,811 mt of pork variety meat – which is more than half of the U.S. industry’s global export volume – valued at $765 million.
U.S. pork variety meat exports were record-large in volume in 2024 at nearly 590,500 mt. Mexico is the second largest market after China, and exports to Mexico were up slightly. But growth was driven mainly by the other markets rounding out the top five: the Philippines, Canada, and Korea.
February 6, 2025/ USMEF/ United States.
https://www.usmef.org
