EU exports returned to growth in November
EU fresh/frozen pork exports returned to growth during November, following stagnation in the previous month.
At almost 205,000 tonnes, volumes were 15% above year earlier levels. With pig prices higher than in 2015, value increased ahead of volume and climbed 33% on November 2015 to reach €518 million.
The Asian markets played a significant role in supporting exports. Shipments to China returned to positive growth, up 14% relative to November 2015. However, they did not match the spectacular increases seen earlier in the year. This is not unexpected given the increased competition from US pork and reduced Chinese demand. South Korean volumes also increased by almost 40%. Outside of Asia, Venezuela emerged as an increasingly important destination, taking over 8,000 tonnes and accounting for 4% of total export volume.
Offal exports were also 12% above November 2015, at 132,000 tonnes. Accounting for almost 60% of export volume, a 25% increase in Chinese shipments spearheaded this growth. Conversely, shipments to Hong Kong, a key hub for the re-export of product in Asia, were back 5% on the year, which led to a 4% loss in market share. Higher average unit prices promoted further growth in EU offal export value; increasing by nearly 30% on the year to just shy of €184 million.
Bethan Wilkins, Trainee Analyst
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