The volume of US pork exports in 2018 was only slightly lower than the record level of 2017, and its value decreased by 1% compared with 2017.
Despite significant obstacles, pork exports in 2018 reached 2.44 million tons - only 0.5% lower than the 2017 record. The value of pork exports amounted to $ 6.39 billion, a decrease of 1% over the same period last year and ranked third in terms of the figure for the entire observation history (ranked second: 2014, $ 6.65 billion, ranked third: 2017, $ 6.49 billion). In December alone, pork exports decreased by 5% compared to the same period last year to 209,780 tons, estimated at $ 527.4 million (a decrease of 11%).
Until May 2018, pork exports to the leading Mexican market probably reached the seventh record in a row, exceeding the pace of 2017 by 6%. But May was the last month in which exports to Mexico increased compared to last year. Further, exports began to decline due to retaliatory duties imposed in response to US tariffs on steel and aluminum imports. The cost reduction in the period from June to December was 24%, which underlines the high degree of dependence of American producers and exporters on supplies to the Mexican market.
Retaliatory duties also affected the pork exports to China / Hong Kong, which fell by 29% in volume (351,774 tons) and by 21% in value ($ 851.7 million) compared with 2017.
Source: meatinfo.ru.
