Russian demand drives Chilean pork exports
Chile’s pork exports between January and September were down 2% compared with the same period in 2013.
Chile’s pork exports between January and September totalled 88,500 tonnes, down 2% compared with the same period in 2013. This maintained its position as the fourth largest non-EU exporter. The decline was the result of a 12% year-on-year reduction in exports in the first half of the year. However, the situation has since changed markedly and volumes in the third quarter rose by 19% compared with the same period in 2013. This was driven by increased shipments to Russia (almost double the volumes of last year). Chile gained from the trade restrictions Russia has placed on the EU, US and Canada. As such, Russia now accounts for 28% of Chile’s total exports, a jump from 17% in the third quarter of 2013. Chilean pork exports to Japan fell by 12% in the third quarter compared with the same period in 2013. However, despite the increased competition from Russia, supplies to China and South Korea were up year-on-year, by 29% and 37% respectively.
As a direct consequence of the higher demand for Chilean pork, the average price of shipments in the third quarter was a fifth higher compared with the previous year, in US dollar terms. In particular, a 60% higher export price for pork destined for Russia contributed to the overall price increase. Given the rise in volumes and the price of exports, the total value of pork exports in the third quarter reached $135.9 million, up 44% compared with a year earlier. The value of Chilean pork exports in the year to September, totalled $322 million, up 5% on last year.