Booming market for EU pork exports

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The increase in EU pork exports, seen throughout 2019, has continued. November shipments were up 54% on the year at 315,000 tonnes. This reflects escalating Chinese import demand towards the end of 2019.

Shipments to China were over three times higher on the year while volumes to other typically important destinations (e.g. South Korea) declined significantly.

The average price of shipments to China has been increasing substantially, so it’s not surprising it has been “outbidding” volumes from other markets. In November, the average price of EU pork exports was €3.10/kg, 40% higher than last year.

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The gains made throughout the year, mean EU pork exports for the year to date were up 26% at 2.48 million tonnes. Unsurprisingly, China was also the main growth market for the year as a whole.

 

Simon King

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