US pork exports in March 2023 reached the highest level in nearly 2 years

Published 2023년 5월 24일

Tridge summary

In the first quarter of 2023, US pork exports experienced a notable increase, with volume reaching 716,691 tons and value amounting to 1.96 billion USD, marking a 14% increase in volume and a 15% increase in value compared to the same period in the previous year. This growth is largely due to a surge in demand in the Western Hemisphere and Asia Pacific markets, including Mexico, the Dominican Republic, and the Philippines. Factors such as the recovery of the tourism industry, competitive pricing, and tariff advantages have contributed to this growth, despite challenges like African swine fever in the Philippines and high entry fees in Malaysia. The US pork industry is poised for further growth, with China/Hong Kong continuing to be the largest export market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Generally in the first quarter of 2023, pork exports reached 716,691 tons, worth 1.96 billion USD, up 14% in volume and 15% in turnover compared to the first quarter of 2022. Dan Halstrom, President and CEO of USMEF, said that US pork exports continue to increase in many Western Hemisphere and Asia Pacific markets. With consumption in the region recovering to pre-COVID levels and US pork being priced very competitively compared to European products, there is great potential for US pork exports in 2023. wide. March pork exports to Mexico reached 95,030 tons, an increase of 15% compared to March 2022 and the second highest month (after January 2023), the value increased by 31% to $ 195.7 million. Overall, in the first quarter of 2023, pork exports to Mexico increased 11% to 270,056 tons, while the value increased 34% to 541.7 million USD. Brazilian pork has been approaching the Mexican market since the end of 2022 in small quantities, but exports in February 2023 reached 27 tons ...

Source: Vinanet