EU exports continue strong performance in February
EU exports continued their strong performance into February, with pork shipments up almost a third on the same period a year earlier, to 168,000 tonnes.
South Korea was the only major Far East market to show a fall in volumes (+23%), when compared with February 2015. This was mitigated by substantial increases in shipments to China (+107%), Japan (+28%) and Hong Kong (+51%) over the same period. However, overall export volume increases have been slightly at the expense of value, with overall unit prices falling 6%. Having said that, the value of shipments was still up 23% on the same period a year earlier, to €361million. The strong pig price in China has had a positive effect on the value of European exports as they can remain competitive against the domestic product, while the average unit price increased 8% on February 2015.
Offal shipments also increased significantly in February 2016 versus February 2015, with strong growth experienced in all Far East markets. Although smaller in volume, Vietnam has emerged from a very small importer in 2015, to levels of 3,800 tonnes in 2016 – a near quadrupling on a year earlier. This may well be an opportunity for UK exporters going forwards, so it will be prudent to watch how this market develops.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8741