EU pork exports continue to grow in 2017
Although January’s performance of 187,500 tonnes was not repeated, EU exports of fresh/frozen pork to the rest of the world in February, still showed an annual growth of 5% at 176,000 tonnes.
This is despite falls in volumes shipped to two of the EU’s biggest markets. China, the EU’s largest market, imported nearly 60,000 tonnes in February, 3% lower year on year. Likewise, the EU shipped 27,000 tonnes to Japan, 3% down on the year. However, these declines were more than offset by increases in exports to the next two biggest markets. Volumes shipped to South Korea and Hong Kong increased by 31% and 18% respectively compared with February 2016.
The volume of exports to other countries also performed well, with the US, Australia and Taiwan all importing more from the EU.
Overall, the value of EU pork exports increased by over 20% on the year in February. Furthermore, despite the reduction in volume shipped, the value of exports to China and Japan increased, due to a rise in unit prices.
What little pork product the EU imports from the rest of the world fell again, with volumes down by 30% on the year in February to 446 tonnes, continuing the long-term decline.
Duncan Wyatt - Lead analyst