EU pork also hits markets on the other side of the world

Published 2024년 5월 13일

Tridge summary

European pork suppliers in Oceania faced challenges in the first quarter of 2024 due to increased competition from the United States and Canada. Despite Australia being the ninth most important customer for EU pork exporters, European exports to the country fell. However, US and Canadian exports to Australia saw significant growth, with the US experiencing a 272% increase compared to the same period last year. Meanwhile, European exporters, excluding the Danes, saw a decrease in exports to New Zealand. The increased competitiveness of North American offer prices, coupled with higher shipping costs for Europeans, likely contributed to the success of US and Canadian exports in Oceania.

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

Original content

European pork suppliers in the region had a difficult time in the first quarter of 2024, because the presence of North American competitors is stronger in Oceania. Providers from the United States and Canada are recording significant growth in the economically strong Oceania region. Although that part of the world is not the most important sales area for the EU's pork exporters, Australia still took 9th place among their most important customers last year with around 95,000 tons of slaughter weight. Perhaps the EU's free trade agreement with New Zealand can offer hope. It is also good news that, as reported by the Danish Agricultural and Food Industry Association, Australia imported about 41,000 tons of fresh and frozen pork, which was 9,400 tons or 30% more than in the first quarter of 2023. So far, this means that imports seem to be picking up after the weak previous year. Meanwhile, the US market share is growing by leaps and bounds: they benefited from Australia's higher ...

Source: Agraragazat