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May pork exports reached 261,361 metric tons (mt), up 16% from a year ago, the ninth largest on record and the largest since May 2021. Export value climbed 12% to $731.1 million, also the highest since May 2021 and the seventh highest on record. Pork variety meat exports were particularly outstanding in May, setting a value record of $127 million.
Through the first five months of the year, pork and pork variety meat exports were 14% above last year’s pace at 1.22 million mt, valued at $3.35 billion (up 13%).
Pork exports to leading market Mexico remained on a record-shattering pace in May, soaring 21% from a year ago to 96,811 mt and climbing 16% in value to $198.9 million. This pushed January-May export volume to 447,081 mt, up 13% from a year ago, while value increased 24% to $890.1 million. While most pork shipments to Mexico are muscle cuts – either for further processing or as featured items in Mexico’s retail and foodservice sectors – Mexico’s demand for pork variety meat has also strengthened this year. Through May, variety meat shipments increased 46% to 64,232 mt, valued at $111.4 million (up 40%).
May pork exports to South Korea totaled 21,182 mt, up 25% from a year ago. Export value increased 21% to $73.4 million, the highest in more than five years and the fourth highest on record. Through May, exports to Korea climbed 15% year-over-year to 87,577 mt, valued at $283.5 million (up 6%). U.S. pork, which enters Korea at zero duty under the Korea-U.S. Free Trade Agreement, has achieved this growth despite an influx of Canadian, Mexican and Brazilian pork, which have benefited from Korea’s recent implementation of duty-free import quotas. Korea’s January-May imports of pork from the EU were down 23%, and this decline was not fully offset by strong growth from the U.S., Canada, Mexico and Brazil.
As noted above, exports of pork variety meat reached a record $127 million in May, up 24% from a year ago. Export volume was 51,826 mt, up 27% and the ninth largest on record. January-May variety exports are on a record pace, soaring 35% above last year’s pace to 246,856 mt, with value up 24% to $585.6 million. China remains the leading destination for U.S. pork variety meat, but 2023 export growth has also been driven by Mexico, the ASEAN, Canada, South America and the Caribbean.
July 7, 2023/ USMEF/ United States.
https://www.usmef.org
