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March pork exports were 222,581 mt, the largest since November but nearly 25% below the record volume achieved a year ago. Export value was $615.3 million, also the highest since November but down 23% year-over-year. First quarter pork exports fell 20% from a year ago to 629,928 mt, valued at $1.71 billion (down 17%).
Following a record year in 2021, pork exports to Mexico continue to climb to new heights. March exports reached 82,348 mt, up 24% from a year ago, with value increasing 14% to $149 million. First quarter exports to Mexico soared 30% to 243,314 mt, valued at $404.2 million (up 17%). While a large percentage of U.S. pork shipments to Mexico are bone-in hams and other cuts destined for further processing, the U.S. industry has also made impressive gains in Mexico’s retail and foodservice sectors.
Demand for U.S. pork continues to strengthen in the Dominican Republic, where domestic production has slowed due to the presence of African swine fever. March exports increased 7% from a year ago to a record 7,038 mt, valued at $17.9 million (up 15%).
Pork exports to South Korea continue to trend higher in value, increasing 14% from a year ago to $154.4 million, driven in part by strong retail demand for convenience-based items and chilled pork cuts. Export volume to Korea fell 6% from a year ago to 43,950 mt. Korea’s first quarter imports of chilled U.S. pork were up 29% in volume (2,642 mt) and climbed 57% in value to $18.3 million.
As anticipated, first quarter exports to China/Hong Kong dropped significantly from a year ago in both volume (104,286 mt, down 56%) and value ($279.2 million, down 48%). The region is still the dominant destination for U.S. pork variety meat, although demand for these items slowed in the first quarter 2022. China’s zero-COVID policies have added tremendous costs and in some cases led to restricted sales of imported cold chain food, affecting pork shipments from all foreign suppliers. While demand for U.S. pork variety meat remains strong, barriers in the market have worsened in 2022. First quarter variety meat exports to China/Hong Kong were down 16% from a year ago to 62,742 mt, but export value still increased 2% to $178.9 million.
May 5, 2022/ USMEF/ United States.
https://www.usmef.org
