July 18, 2023

US pork exports up 16% in May

Led by another outstanding month in Mexico and robust demand for variety meat, exports of US pork continued to gain momentum in May, according to data released by the United States Department of Agriculture (USDA) and compiled by the US Meat Export Federation (USMEF).

May pork exports reached 261,361 tonnes, up 16% from a year ago, the ninth largest on record and the largest since May 2021. Export value climbed 12% to US$731.1 million, also the highest since May 2021 and the seventh highest on record. Pork variety meat exports were particularly outstanding in May, setting a value record of US$127 million.

Through the first five months of the year, pork and pork variety meat exports were 14% above last year's pace at 1.22 million tonnes, valued at US$3.35 billion (up 13%).

Pork exports to leading market Mexico remained on a record-shattering pace in May, soaring 21% from a year ago to 96,811 tonnes and climbing 16% in value to US$198.9 million. This pushed January-May export volume to 447,081 tonnes, up 13% from a year ago, while value increased 24% to US$890.1 million. While most pork shipments to Mexico are muscle cuts – either for further processing or as featured items in Mexican retail and foodservice sectors – the country's demand for pork variety meat has also strengthened this year. Through May, variety meat shipments increased 46% to 64,232 tonnes, valued at US$111.4 million (up 40%).

May pork exports to South Korea totaled 21,182 tonnes, up 25% from a year ago. Export value increased 21% to US$73.4 million, the highest in more than five years and the fourth highest on record. Through May, exports to South Korea climbed 15% year-over-year to 87,577 tonnes, valued at US$283.5 million (up 6%). US pork, which enters the country at zero duty under the Korea-US Free Trade Agreement, has achieved this growth despite an influx of Canadian, Mexican and Brazilian pork, which have benefited from South Korea's recent implementation of duty-free import quotas.

South Korea's January-May imports of pork from the European Union were down 23%, and this decline was not fully offset by strong growth from the United States, Canada, Mexico and Brazil.

Export volume of pork variety meat was 51,826 tonnes, up 27% and the ninth largest on record. January-May variety exports are on a record pace, soaring 35% above last year's pace to 246,856 tonnes, with value up 24% to US$585.6 million.

China remains the leading destination for US pork variety meat, but 2023 export growth has also been driven by Mexico, ASEAN nations, Canada, South America and the Caribbean.

- USMEF