EU trade with East Asia strengthens
October figures show a 12% year-on-year increase in EU pork exports, to 170,300 tonnes. This was the highest monthly figure in records back to 2002, highlighting the scale of excess supplies available on the European pig market.
October figures published by Eurostat show a 12% year-on-year increase in EU pork exports, to 170,300 tonnes. This was the highest monthly figure in records back to 2002, highlighting the scale of excess supplies available on the European pig market. While the year to date figures show Japan as the main destination, in October China held the position in line with the previous month. Shipments to China increased by 10% compared with October 2013. Trade with South Korea also strengthened, making it the second most important market for the EU, as volumes trebled from 8,500 tonnes in October 2013 to 25,600 in the latest month. As Japan begins to pull in more imports from the US, the EU’s share is falling, with volumes down 11% on last October. Hong Kong and the Philippines are also included in the top five destinations for EU exports in the month, highlighting the significance of Asia to the continent’s exporters since the Russian ban on EU imports. As such, the five Asian markets account for 62% of total export sales, up from 50% in October 2013. The value of EU exports in October totalled €399.9 million, up 9% year on year.
Similarly, at 113,400 tonnes, EU offal exports also recorded an increase, up 24% compared with October 2013. Even in the offal market, the Asian countries performed strongly, with China and Hong Kong taking over two thirds of the shipments. Volumes to China rose by 39%, while the increase to Hong Kong was smaller at 5%. The figures also indicate a strengthening of the Philippines and South Korean market. The value of offal exports in October totalled €140.6 million, up 26% on the previous year.