June 12, 2009

Despite the prolonged slowdown in global economic activity and the initial wave of AH1N1 flu-related market reactions, exports of US pork held up reasonably well in the month of April, according to the US Meat Export Federation (USMEF).

 

While pork plus pork variety meat exports declined by 10 percent in volume compared to April 2008, the drop in value was limited to about 4 percent.

 

For the first four months of the year, pork export volume reached 648,063 tonnes, about 3-percent above the record pace of 2008, and the value has increased about 6 percent to US$1.495 billion.

 

USMEF president and chief executive officer Philip Seng said that in spite of the turmoil in the latter part of the month, April pork exports were not down as much as had been predicted given the continued economic slump.

 

Mexico continues to be the pacesetter for US pork exports in 2009, with April exports climbing 61 percent in volume and 50 percent in value compared to last year.

 

For the first four months of the year, pork export volume to Mexico is up 71 percent to 177,164 tonnes and the value has increased 62 percent to US$265 million.

 

April export results, however, reflect only a partial-month impact from AH1N1 flu as inventories backed up during the flu-related slowdown of business activity in Mexico and consumer demand for pork is only recently returning to normal, this situation is likely to have a noticeable impact on May export results.

 

Perennially the leading market for US pork exports, Japan is performing well again in 2009 with export volume for the first four months of the year increasing 9 percent to 158,265 tonnes and value up 24 percent to US$571 million.

 

While Japan's April export volume was down slightly due to higher inventories and lower domestic pork prices, exports still increased in value by nearly 19 percent.

 

Other markets performing well in April included the Caribbean, where pork exports increased by 60 percent in volume and nearly 50 percent in value over last year.

 

For January to April, pork exports to this region have climbed 70 percent in volume and 66 percent in value over 2008.

 

April exports to Taiwan increased 46 percent in volume and 43 percent in value compared to April 2008, and in the first four months of the year have more than doubled in both volume and value over last year's totals.