February 20, 2024

US pork exports in December 2023 achieved eighth biggest volume on record

The United States' pork exports in December 2023 climbed nearly 10% from a year ago to 268,399 metric tonnes, the largest since May 2021 and the eighth largest on record.

Export value increased 11% to US$765.8 million, also the highest since May 2021 and the third highest on record. While December exports trended higher in many key markets, Mexico was once again the top performer for US pork exports, setting records for both volume (105,451 metric tonnes) and value (US$233.8 million).

The strong December results pushed 2023 export value to a record US$8.16 billion, up 6% from 2022. Export value per head slaughtered also set an annual record of nearly US$64. Export volume was 2.91 million metric tonnes, up 8% year-over-year and the third largest on record.

Fueled by robust growth in Honduras, Guatemala, El Salvador, Nicaragua and Costa Rica, US pork exports to Central America in December climbed 20% to a record 18,121 metric tonnes, valued at a record US$53.3 million (up 19%). 2023 exports were the second largest on record at 137,469 metric tonnes, up 15% from 2022 and down just 1.5% from the 2021 record. Export value increased 20% year-over-year to US$405.7 million, an annual record.

December pork exports to South Korea surged 64% from a year ago to 23,912 metric tonnes – the largest in more than four years. Export value climbed 69% to US$81.9 million, the highest in more than five years and the third highest on record. These results pushed 2023 exports 9% above the previous year at 191,262 metric tonnes, the third largest on record. Export value increased 4% to US$633.4 million, the second highest on record.

Led by excellent growth in Chile and Peru and a fourth quarter rebound in leading market Colombia, US pork exports to South America increased 2% in volume (118,660 metric tonnes) and 10% in value (US$340.6 million) over 2022. After a slow start to the year, shipments to Colombia regained momentum and reached 98,876 metric tonnes, down 3% year-over-year, while value increased 10% to a record US$272 million. Exports to Chile climbed 39% to 15,733 metric tonnes, valued at US$53.1 million (up 11%), while shipments to Peru increased 23% to 2,298 metric tonnes, valued at US$6.5 million (up 17%).

Led by higher volumes to the Philippines and Vietnam and surging demand in Malaysia, US pork exports to ASEAN countries reached 64,158 metric tonnes in 2023, up 22% year-over-year. Export value declined slightly, falling 4% to US$150 million. Exports to Malaysia, where African swine fever (ASF) has weighed heavily on domestic production, soared by nearly 1,700% to 5,170 metric tonnes, valued at US$16.3 million (up more than 1,500%). Malaysia's imports of European pork were also record-large, topping 44,000 metric tonnes through November.

Although US pork exports to Japan trended modestly lower in 2023, December shipments increased 9% year-over-year to 26,826 metric tonnes, valued at US$111.5 million (up 11%). For the full year, exports declined 4% to 342,163 metric tonnes. While export value fell 5% to US$1.4 billion, Japan is the second highest value destination for US pork, trailing only Mexico.

- USMEF