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United States January pork exports totaled 248,656 mt, down 9% from a year ago but slightly above USMEF’s projections. Export value was down 13% to $642.8 million. Pork muscle cut exports were down 11% in volume (208,234 mt) and 15% in value ($551.3 million), while pork variety meat shipments trended modestly higher than a year ago.
USMEF President and CEO Dan Halstrom said January represented a fairly solid start to 2021, but cautioned that exports still face COVID-related obstacles and significant transportation and labor challenges including congestion and container shortages at West Coast ports.
Growth in Japan, Central America, Philippines and Caribbean
January pork exports equated to $57.14 per head slaughtered, down 9% from a year ago. Exports accounted for 28.2% of total pork production and 25.4% for muscle cuts only, down from 29.8% and 27.4%, respectively, in January 2020.
As expected, pork exports to China/Hong Kong were well below last year’s very large volumes but still reached 76,202 mt (down 21% from a year ago) valued at $173.3 million (down 29%). While USMEF expects exports to the region to remain below 2020 levels throughout the year, China still has a pressing need for imported pork. Despite the continued 25% retaliatory duty on U.S. pork and pork variety meats, China’s demand for pork variety meat remains strong, with January exports of pork variety meat to China/Hong Kong increasing 18% from a year ago to 24,475 mt.
Pork exports to Japan increased 2% from a year ago in both volume (32,332 mt) and value ($134.6 million). Demand for chilled U.S. pork remains very strong in Japan’s retail sector and the U.S. industry has reclaimed market share for ground seasoned pork since the U.S.-Japan Trade Agreement (implemented in January 2020) slashed the duty rate and eliminated a severe tariff disadvantage. Japan’s duty rate on ground seasoned pork will notch down again on April 1 to 6.6%, compared to the pre-trade agreement rate of 20%.
Coming off a record year in 2020, pork exports to Central America continued in January at 11,023 mt, up 56% from a year ago, valued at $26.9 million (up 43%). Exports more than doubled to Panama and posted impressive growth in Honduras, Guatemala, Nicaragua and Costa Rica.
Exports to the Philippines nearly doubled from a year ago, increasing 98% to 4,739 mt valued at $11.3 million (up 99%).
Led by strong growth in the Dominican Republic and the Bahamas, exports to the Caribbean increased 33% from a year ago to 6,361 mt, with value up 27% to $15.4 million.
Pork exports to Colombia slumped in 2020 but showed improvement late in the year. This momentum continued in January as exports reached 6,624 mt, up 6% from a year ago, valued at $15.2 million (down 2%). Led by continued growth in Chile, January exports to South America increased 3% from a year ago to 10,472 mt, though value was down 4% to $26.7 million.
Following a very strong fourth quarter performance, exports to Mexico trended lower in January at 63,757 mt, down 10% from a year ago, while value fell 18% to $110.5 million.
March 8, 2021/ USMEF/ United States.
https://www.usmef.org/
