US pork exports remain firm in February

Other Frozen Pork Cuts
United States
Market & Price Trends
Published Apr 15, 2024

Tridge summary

In the initial months of 2024, U.S. pork exports experienced a notable surge, with a 10% increase in both volume and value, reaching 502,354 tonnes and $1.37 billion respectively. This growth is highlighted by Mexico's 21% increase in imports in February, making it the largest market for U.S. pork. Other countries such as South Korea, South America, and Australia also showed significant growth, with South Korea's imports jumping by 71% in February. Additionally, Malaysia has shown potential as an emerging market with an 848% increase in pork imports from the U.S. This overall expansion underscores the strong global demand for U.S. pork.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

February pork exports increased 14% year-on-year to 250,930 tonnes, while its value increased 15% to US$685.1 million. In the first two months of 2024, exports increased by 10% in both volume (502,354 t) and value ($1.37 billion). Pork exports to Mexico, the main market, maintained a remarkable trajectory in February, rising 21% year-on-year to 94,272 t (the eighth highest on record), while the value rose 22% to US$189.5 million. Through February, shipments to Mexico totaled 196,453t, 12% above last year's record pace, while the value rose 15% to $396.8m. US pork demand continues to recover in South Korea, where shipments have accelerated significantly since the end of 2023. February exports reached 21,217 t, a 71% increase over last year, while the value of Exports increased 74% to US$69.3 million. Until February, exports to South Korea increased by 61% in volume (41,944 t) and 62% in value (US$137 million). Pork exports to South America are off to a strong start in 2024. ...
Source: 3tres3
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