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Through the first three quarters of the year, United States pork exports were 16% ahead of last year’s record pace in both volume (2.22 million mt) and value ($5.69 billion) according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). The increases were even stronger for pork muscle cuts, jumping 22% to 1.87 million mt valued at $4.93 billion (up 19%).
Average pork export value from January-September increased 14% to $58.63. Through September, exports accounted for 29.6% of total production and 26.9% for muscle cuts, up from the 2019 ratios of 26.3% and 22.8%.
China still leading pork shipments, but other key markets strengthening
Pork exports to the China/Hong Kong region through the third quarter were at 800,747 mt (up 96% from a year ago) valued at $1.83 billion (up 120%). U.S. pork continues to face a 25% tariff disadvantage in China.
Despite slumping in May and June due mainly to interruptions in production, exports to Japan through September were up 2% from a year ago at 284,108 mt, valued at $1.19 billion (up 4%). Japan’s imports of U.S. ground seasoned pork reached $243 million through September, up 46% from last year, capitalizing on tariff reductions included in the U.S.-Japan Trade Agreement.
January-September exports to Mexico declined 7% in volume (490,893 mt) and 14% in value ($790.6 million). Despite the lower volumes, U.S. share of Mexico’s pork imports has rebounded strongly in 2020 to 89%, up from 83% in the same period last year.
Exports to Taiwan for January-September total 15,937 mt (up 13%) valued at $41.1 million (up 21%). However, U.S. pork may face headwinds in the market due to pushback following the Taiwanese government’s announcement that it will ease restrictions on U.S. pork produced with ractopamine, coupled with a plan to implement extensive country of origin labeling requirements. Taiwan’s amended regulations are set to take effect Jan. 1.
January-September pork exports to Chile pulled closer to last year’s pace but remained 4% lower in volume (32,474 mt) and 9% lower in value ($88.8 million).
November 5, 2020/ USMEF/ United States.
https://www.usmef.org/
