EU exports continue to rise in April
EU exports of fresh and frozen pork grew substantially in April, underpinned by increasing Chinese import demand. According to data from Eurostat, in April, the EU exported 219,000 tonnes of pork, 30% more than in the same month last year. Exports to China grew by 90%, to 98,000 tonnes.
In the year to date, EU exports have reached 832,000 tonnes (+15%), worth €1.9bn (+14%). During the same period exports of offal have increased by 6% to 442,000 tonnes, worth €523 million.
It is the European countries with the biggest exposure to the Chinese market that have seen the biggest increase in prices. Although, as of last week, the UK price was still higher than many of the main European markets, with only Germany, Spain and Denmark recording higher reference prices. Like the European reference prices, spot prices in the UK have been rising fast, and this is feeding into the value of UK pigs overall.