Spanish pork exports catch up with rising production
Earlier this year, we reported how Spanish pork export growth was lagging behind rising production. In the second quarter, it seems exports caught up, with the market now balanced similarly to last year.
In quarter two, Spanish pig meat (and offal) exports strengthened by 11% compared to the year before. Growth was only 4% in Q1. For the first half of the year overall, volumes were therefore 8% higher at 1.08 million tonnes. The growth was primarily driven by increased demand from China, due to the ongoing ASF crisis. The value of Spanish exports in the first half of the year totalled €2.64 billion, up 12% from a year earlier.
Expansion in the Spanish pig herd has boosted production by 2% (+48,500 tonnes). As such, more pork has been available for export in the first half of this year. When converted to carcase weight equivalent, exports are around 40,000 tonnes higher. In product weight, the increase is much larger (+76,000 tonnes), as much more offal has been exported this year.
Most of the additional pork production has now been channelled into the growing export market. However, some also seems to have displaced import market share. In the first half of 2019, imports of pig meat declined by 10%, a drop of 8,700 tonnes cwe.