Trade China boosts pork exports
October pork exports increased 8.5% year-over-year to 225,376 t, while export value climbed 10% to $592 mill. January-October export volume was 5% ahead of last year’s pace at 2.13 mill. t, while value increased 3% to $5.48 bn.
October beef exports totaled 108,017 t, an 8% decline from last year’s large volume, while export value ($649.1 mill.) was down 11%. Through the first 10 months of 2019, beef exports were down 2.5% in volume (1.1 mill. t) and value ($6.75 bn.) from last year’s record pace.
January-October highlights for US pork include:
- Fueled by strong growth in both Australia and New Zealand, pork exports to Oceania are on a record pace in both volume (95,218 t, up 39%) and value ($272.9 mill., up 37%). The region is an outstanding destination for US hams and other muscle cuts used in further processing.
- Exports to Central America were 16% above last year’s record pace in volume (76,861 t) and 19% higher in value ($187 mill.). Exports to Panama were one-third higher year-over-year and mainstay markets Honduras and Guatemala have both achieved double-digit value growth.
- While October export volume to South America slowed slightly from a year ago (13,934 t, down 2%), value still increased 12% to $35.9 mill. Led by steady growth in Colombia and a strong uptick in demand from Chile and Peru, January-October exports to South America remained on a record-shattering pace at 128,469 t (up 21% year-over-year), valued at $323.8 mill. (up 25%).
January-October highlights for US beef include:
- In Mexico, the third-largest destination for US beef exports, volume was slightly below last year at 196,431 t (down 1%), but value increased 4% to $916.4 mill. This was largely driven by a sharp increase in the per-unit value of beef variety meat exports to Mexico, most notably tripe. Despite being up just 1% from a year ago in volume (80,789 t), variety meat value to Mexico jumped 17% to $219.1 mill.
- Similar to Mexico, US beef variety meat is commanding stronger prices in Egypt, the leading destination for US beef livers. Through October, variety meat exports to Egypt were up 1% from a year ago at 53,504 t but climbed 14% in value to $62.3 mill.
- Led by surging demand in Indonesia and solid growth in the Philippines, beef exports to the ASEAN region were 30% above last year’s pace in volume (51,758 t) and 15% higher in value ($251.5 mill). Split fairly evenly between muscle cuts and variety meat, exports to Indonesia soared 72% in volume (19,889 t) and 43% in value ($71.8 mill.) from a year ago.
- Led by strong growth in Panama, beef exports to Central America were 7% above last year’s pace in volume (12,802 t) and 13% higher in value ($72.7 mill.). Export value also trended significantly higher to Guatemala, Honduras and Costa Rica.