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U.S. pork exports reached 252,411 mt in October, up 3% from a year ago, while value also climbed 3% to $710.4 million. Although shipments to leading market Mexico declined slightly, this was more than offset by growth in Japan, Central America, the Caribbean, Oceania and the ASEAN region. Through the first 10 months of 2024, pork exports increased 5% from a year ago to 2.49 million mt, valued at $7.07 billion (up 6%). For the year, exports are projected to surpass 3 million mt for the first time, exceeding the 2020 volume record (2.98 million mt) and topping last year’s value record ($8.16 billion).
Pork exports to leading market Mexico have reached new heights in 2024 but trended modestly lower in October, falling 2% from a year ago in both volume (98,728 mt) and value ($216.5 million). Through the first 10 months of the year, exports to Mexico were still 6% above last year’s record pace at 948,932 mt, valued at $2.1 billion (up 11%).
Led by impressive growth in leading market Honduras and a sharp increase in demand in Costa Rica, pork exports to Central America are also on a record pace in 2024. October exports to the region totaled 14,601 mt, up 6% from a year ago, while value increased 11% to $46.9 million. These results pushed January-October shipments 21% above last year’s pace to 124,235 mt, while value soared 30% to $390.9 million.
October pork exports to the Caribbean climbed 24% from a year ago in both volume (13,111 mt) and value ($39.2 million), led by growth in the Dominican Republic, Cuba and Trinidad and Tobago. January-October exports to the region totaled 103,902 mt, up 6% from a year ago, while value was up 9% to $307.8 million.
Although well below the large totals posted earlier in the decade, pork exports to China/Hong Kong have regained some momentum in recent months. October exports totaled 45,178 mt, up 15% from a year ago, while value increased 12% to $109.3 million. January-October shipments to China/Hong Kong were 9% below last year in volume (389,610 mt) and 14% lower in value ($933.3 million). China/Hong Kong is the largest destination for U.S. pork variety meat, with January-October exports totaling 267,587 mt, down 5% from a year ago, while value fell 12% to $633.6 million.
December 6, 2024/ USMEF/ United States.
https://www.usmef.org/
