EU pig meat exports begin to cool
EU pork exports began to cool off in September, influenced by a number of factors, including falling Chinese demand and higher supplies of cheaper pork coming from the US and Brazil.
Total shipments of pork from the EU did continue to increase during the month but, at 175,800 tonnes, the 6% the year-on-year rate of increase had slowed considerably compared to earlier in the year. Volumes going to China, the largest market for EU pig meat continued to rise. However, the increase was smaller than has been seen for most of the rest of this year, up by 6% at 64,700 tonnes. Shipments going to Japan, South Korea and Hong Kong were also higher than in the same month in 2015, while volumes going to other destinations were down by 12%.
The average unit price of exports from the EU followed the trend seen in EU pork prices and increased. This left the total value of exports from the EU up 13%, compared with a year earlier, at €416.1 million. Total exports for the first three quarters of the year reached 1.76 million tonnes, up 44% on the same period in 2015. This was over €1 billion (38%) higher than in 2015 at over €3.8 billion.
Pig offal exports continued to rise, with shipments up 15% year on year at 130,500 tonnes, with all major Asian markets taking lager volumes. Unit prices also continued to rise, by 11%, leading the overall value of offal exports to rise 28% to €171.9 million. This continued the trends seen throughout the year so far.
Mark Kozlowski, Senior Analyst
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