Mexico: Imports continue to grow despite price increases
Pork exports declined while import volumes continue at record levels despite the 16.1% increase in price.
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Pork exports declined while import volumes continue at record levels despite the 16.1% increase in price.
U.S. pork exports topped year-ago totals for the second consecutive month in September.
Again with China? Didn't they already recover their inventory after ASF? Burset clarifies the situation and analyzes how it will affect us.
Compared to the September report, new cuts in U.S. production and export projections for corn and soybeans stand out, while for Latin America, increases are estimated for oilseeds in these two indicators.
Global pork production will increase in 2023, while exports will decline, according to the USDA.
During the year, there has been a steady increase in the volume of imports; however, in August the volume of imported product decreased considerably.
August exports of U.S. pork topped year-ago totals for the first time in 2022, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Sustained high feed costs and ASF continue to limit the growth of EU pigmeat production.
After assessing the international situation, Burset forecasts the beginning of the price drop for Spanish pigs, which will continue until the beginning of 2023.
Pork exports remained below last year’s pace but continued to gain strength in Colombia and the Caribbean and stayed above year-ago for Mexico, the leading destination for U.S. pork.
Argentina succeeded in opening the Singapore market to pork and pork products, authorizing 3 meat packing plants.
In 2021, pork exports increased 66% in value and 54.4% in volume compared to 2017.
Official closing data for Brazil, Mexico, Chile, Colombia, and Argentina show a general increase in apparent consumption and a fall in exports.
Between January and June, Spanish pork exports decreased 24%, with a 50% drop in exports destined for China.
Pig slaughter and pork production continue to increase despite the drop in exports. Domestic demand remains strong and is reflected in the considerable increase in apparent consumption.
According to the USDA, moderate growth is projected for the region's production, and exports from Brazil, Mexico and Chile will fall. Significant growth is expected in imports from Mexico and Argentina.