February 21, 2011

 

US pork exports see a second-best year on record

US pork export value saw a second-best year on record at US$4.78 billion, decreasing just 2% short of the 2008 high and overtaking 2009 by more than 10%.

 

The total volume hit 1.92 million tonnes and had an increase of 3% over the previous year.

 

US pork exports posted the best value year ever in Japan, reaching US$1.65 billion. This was the third consecutive year in which exports to Japan exceeded US$1.5 billion, with value jumping 7% over 2009 and 6% over the previous record in 2008. Volume was 434,923 tonnes - an increase of 3% over the previous year.

 

Pork exports have never broken the US$1 billion mark for a single year in any market other than Japan, but came very close in 2010. Exports to Mexico reached a record US$986.7 million - that is an increase of nearly 30% over the previous high set in 2009. Volume was up 8% over the previous year to 545,732 tonnes.

 

"US Meat Export Federation (USMEF) is extremely proud of the success US pork has achieved in both of these mainstay markets," USMEF President and CEO Philip Seng said. "Japan is a remarkable market that provides outstanding returns for US producers. But it is exceptionally competitive, and we have to stay very aggressive to have any chance of remaining the market share leader. With Mexico, we are very pleased with the way demand help up in the face of rising pork prices. Consumers there truly appreciate the quality of US pork, and it performed very well in both the retail and processing sectors."

 

Export volume per head of slaughter equated to US$43.72 compared to US$38.44 in 2009. The ratio of total production exported was 23.7% compared to 22.5% in 2009.

 

Canada held strong as the third-largest value market for US pork, setting new records for both volume and value. Value increased 19% to US$618.2 million, while volume was up 8% to 183,068 tonnes.

 

Exports to China rebounded after being absent for much of the previous year, increasing 112% in volume (130,675 tonnes) and 73% in value (US$228.5 million).

 

Led by strong demand in the Philippines and Singapore, exports to the ASEAN region were record-large - up 12% in volume (66,657 tonnes) and 26% in value (US$134.6 million).

 

Exports to Australia were also record-large, reaching 52,426 tonnes valued at US$148.2 million. This was an increase of 8% in volume and 29% in value.

 

Led by Honduras, Guatemala and Colombia, exports to the Central-South America region set new records in both volume (up 32% to 59,405 tonnes) and value (up 41% to US$141.3 million).

 

Exports to the Caribbean also posted a record-breaking performance, increasing 6% in volume (42,797 tonnes) and 19% in value (US$92.6 million).

 

Pork exports to South Korea were down in 2010, due in part to high domestic inventories through much of the year. This is expected to change in 2011, however, as the country deals with a severe foot-and-mouth disease crisis in its swine herd. Korea's pork import activity has already picked up, and will be further bolstered by a recently-announced, duty-free quota.

 

"This is a very unfortunate situation in Korea, so distributors there are in need of product and consumers need relief from soaring prices," Seng said. "So we will be working to make sure that US pork fills a substantial portion of the new quota."