April 17, 2012

 

 

US pork exports continue to lead ahead of last year's record pace through February, according to USDA statistics.

 

Pork export volume (187,629 metric tonnes) was 9% higher than in February 2011, while value (US$526.2 million) was up 21%. For the first two months of the year, pork exports totalled 399,086 metric tonnes valued at US$1.09 billion - increases of 18% and 31%, respectively. This is the first time US pork export value has reached the US$1 billion mark after only two months.

 

"Export results were quite solid, especially considering the impact of market access issues in some destinations, particularly Taiwan and Southeast Asia," said USMEF President and CEO, Philip Seng. "We continue to expand the presence of US pork in all key destinations - especially in North Asia and in Western Hemisphere markets."

 

February pork exports equated to 27.7% of total production when including both muscle cuts and variety meat, 24% for muscle cuts only. This compares to 27% and 22%, respectively, in February 2011. Export value equated to US$58.17 per hog slaughtered, up 14% from last year's figure of US$51.06.

 

Exports to Mexico, the largest volume market for US pork, were lower than the record tonnage recorded in December and January but still outpaced last February's results in both volume and value. For the year, exports to Mexico were up dramatically compared to the first two months of 2011 - increasing 20% in volume (113,424 metric tonnes) and 24% in value (US$208 million).

 

Japan remains the value pacesetter for US pork, as February exports were steady in volume with last year but still achieved an increase of 17% in value. Through February, 2012 exports to Japan were 8% higher than a year ago in volume (80,316 mt) and 22% higher in value (US$342 million).

 

"It takes a strong effort at every level to keep these mainstay markets performing at such a strong pace," Mr Seng explained. "The retail, foodservice and processing sectors are all critically important to the US industry's ability to remain the leading supplier to both Japan and Mexico, and USMEF continues to target them aggressively. We also are very focused on the branded market in Japan, which offers fertile ground for expanding sales of US pork."

 

Other pork export highlights for the first two months of 2012 include:

 

Exports to China/Hong Kong were 39% higher in volume (78,193 metric tonnes) and nearly doubled in value (US$158.2 million, up 94%). February volume, however, was the smallest since June 2011.

 

Exports to Canada increased 36% in volume (36,484 metric tonnes) and 45% in value (US$129.9 million).

 

While lower tariff rates prescribed in the Korea-US FTA did not take effect until mid-March, exports to South Korea increased 11% in volume (36,399 metric tonnes) and 28 per cent in value (US$104 million).

 

Exports to Australia were one-third higher in both volume (12,423 metric tonnes) and value (US$38.9 million).

 

Led by strong demand in Chile and Colombia, exports to the Central and South America region increased 18% in volume (13,091 metric tonnes) and 23% in value (US$34.8 million).

 

Destinations where export volume was lower for the year included Taiwan (steady in value at US$10.4 million but down 19% in volume to 4,693 metric tonnes), where the controversy over ractopamine residues has created an uncertain business climate and lowered imports from all sources. Regulatory issues in the Philippines and Singapore held back exports to the ASEAN region, where export value (US$18.3 million) still achieved a small increase despite an 18% decline in volume (7,169 metric tonnes).