Record-large shipments to Mexico lead strong month for US pork exports

Published 2023년 3월 24일

Tridge summary

Pork exports from the US have reached record highs in January, with a 11% increase from the previous year to 96,800 mt, and a 40% surge in export value to $191.2 million. This growth is attributed to the suspension of import duties for eligible suppliers in Mexico and the Dominican Republic (DR) until the end of 2023. Despite competition, US pork demand in Mexico is strong, and exports to the DR have also increased due to the US being the only major supplier with duty-free access, as the DR's domestic production is affected by ASF. Pork exports to China/Hong Kong have also seen a rise, reaching 46,315 mt, a 31% increase from last year, as China's pork production has recovered and economic revival efforts are underway.

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

Original content

Fresh off a record year, pork exports to Mexico didn’t miss a beat in January, according to a recent press release from the US Meat Export Federation (USMEF). Export volume was a record 96,800 mt, up 11% from a year ago and 7% above the previous high in December 2022. January export value soared 40% to $191.2 million. Demand for US pork is surging even as it faces increasing competition in Mexico, due to suspension of import duties for all eligible suppliers through the end of 2023. Mexico also recently opened to some imports from Brazil. Pork exports to the Dominican Republic also remained strong in January, increasing 28% year-over-year to 8,185 mt, while export value jumped 67% to $23.8 million. The DR also suspended import duties from all suppliers for a portion of 2022. But with that decree now expired, the US is the only major supplier with duty-free access at a time when the DR’s domestic production is struggling to overcome the impact of African swine fever (ASF). While ...

Source: Thepigsite