EU pork exports stabilise in October
In contrast to recent months, EU pork exports were stable on the year in October, at 180,200 tonnes.
This was an 11% increase on the previous month, and represented the highest monthly pork export volume since January. Nonetheless, falling average unit prices meant the value of EU pork exports was still 7% lower than 2016 during the month, at €423.6 million.
Exports to China returned to growth for the first time since January during the month, reaching 61,300 tonnes which was 7% above 2016 levels. This rise in shipments is not yet reflected in the official Chinese import volumes, so it will be interesting to see if growth returned when the November figures are released later this month. The Japanese market also performed strongly, taking 20% (+5,000 tonnes) more pork than in the year before. Exports to a number of other markets also expanded on the year, including Hong Kong (+1,300 tonnes) the US (+2,700 tonnes) Taiwan (+1,700 tonnes) and the Ivory Coast (1,600 tonnes). However, this growth was countered by another sharp decline in exports to South Korea, which fell by over a third compared to 2016 to 15,800 tonnes.
EU offal exports performed less well in October, falling by 5% year-on-year to 115,700 tonnes as shipments to China remained in decline. At 60,300 tonnes, exports to China were 11% below year earlier levels, and Hong Kong shipments also declined 4% (-900 tonnes) Nonetheless, there was growth in shipments to the Philippines, South Korea and Ukraine. When combined with falling unit prices, the value of EU offal exports during the month was 15% back on the year, at €142.9 million.
Bethan Wilkins, Analyst
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