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U.S. pork exports surged to 259,812 metric tons (mt) in November, up 26% year-over-year and 11% above the previous high set in July 2019. Export value was $712.7 million, up 32% from a year ago and breaking the previous record (also from July 2019) by 14%.
Pork export value per head slaughtered was $62.90 in November, up 29% from a year ago and the highest in five years. Through the first 11 months of 2019, per-head value averaged $52.24, up 2% year-over-year.
Pork surge to China/Hong Kong continues; export value to Mexico rebounds
Demand from China/Hong Kong continued to drive U.S. pork export growth in November, with volume up 284% from a year ago and value up 240%. For January through November, exports to the region were up 71% to 554,789 mt, valued at $1.18 billion (up 49%).
November pork export volume to Mexico was 6% lower than a year ago at 57,537 mt, but export value surged 28% to $124.3 million, the highest since July. For January through November, exports to Mexico were down 11% from a year ago in volume (641,952 mt) and 6% lower in value $1.14 billion. Competition from Canadian pork was especially strong in the Mexican market while Canada was suspended from China (late June to early November). From January through November, Canada’s exports to Mexico increased 8% from a year ago to 128,100 mt, valued at $185 million (up 14%).
November exports to Japan trailed the previous year by 3% at 32,594 mt, while value was down 1% to $136.5 million. Through the first 11 months of the year, exports to Japan were down 6% from a year ago in volume (340,568 mt) and 7% lower in value ($1.4 billion). Japanese import data show imports of U.S. pork decreased by $121 million with much of the decline being in ground seasoned pork, which fell by $73 million due to the wide tariff rate discrepancy. Beginning Jan. 1, Japan’s tariff rates on U.S. pork and pork products were lowered to match those imposed on European, Canadian and Mexican pork, eliminating a significant price disadvantage that slowed U.S. exports in 2019. The rate for U.S. ground seasoned pork fell from 20 to 13.3%.
January-November highlights for U.S. pork exports include:
- Exports to Colombia rebounded in November to pull 9% ahead of the previous year’s pace in volume (92,280 mt) and 7% higher in value ($203.6 million).
- Bolstered by strong growth in Chile and Peru, exports to South America already surpassed previous full-year records in both volume (141,657 mt, up 18% year-over-year) and value ($356.2 million, up 22%).
- Led by strong growth in Panama, Guatemala, Honduras and Costa Rica, exports to Central America also set new annual records for volume (86,794 mt, up 16%) and value ($211.8 million, up 20%).
- Exports to the Oceania region jumped 36% from a year ago in both volume (105,399 mt) and value ($304.5 million).
- Exports to Canada increased 6% from a year ago in both volume (197,847 mt) and value ($738.2 million).
Wednesday, January 8, 2020 /USMEF/ U.S.A.
http://www.usmef.org/
