Volume Exports Up in August, Plus Other Trade Report Highlights

Ship hauling containers for ports unknown ( Pixabay/MGN )

Following the full report on August exports for U.S. pork, here are additional highlights from the U.S. Meat Export Federation (USMEF) report for January-August 2019:

  • Led by steady growth in mainstay market Colombia and surging demand in Chile, exports to South America climbed 28% above last year's record pace in volume (105,344 mt) and 30% in value ($264.7 million). Shipments to Peru cooled in August but have also contributed to export growth in 2019.
  • Exports to Central America were 16% above last year's record pace in volume (60,727 mt) and 19% higher in value ($147 million). Honduras and Guatemala are the largest Central American destinations for U.S. pork, and exports trended higher to both markets. Panama, Costa Rica and Nicaragua also contributed to regional growth, with exports increasing by double digits.
  • Exports to Oceania were up 38% from a year ago to 77,556 mt, while value increased 32% to $217.1 million. A key destination for hams and other muscle cuts used for further processing, exports to Australia jumped 36% from a year ago to 69,692 mt, valued at $192.5 million (up 31%). Growth to New Zealand was also impressive, with exports up 52% in volume (7,864 mt) and 48% in value ($24.6 million).
  • While January-August exports to South Korea were down 9% from last year's record pace in volume (145,690 mt) and fell 10% in value ($411.8 million), August exports were up significantly as volume climbed 27% to 14,336 mt and value surged 35% to $42.2 million. In mid-September, South Korea confirmed its first cases of African swine fever (ASF), with 13 outbreaks reported in the northwest corner of the country near the border with North Korea. While the disease is still confined to a relatively small area, ASF is certainly a pressing concern for Korea's domestic pork industry.
  • ASF has also impacted pork production in Southeast Asia, especially in Vietnam but also recently spreading into the Philippines. While U.S. exports to the ASEAN trailed last year's pace by 10% in volume (35,164 mt) and 19% in value ($81.1 million), the region's need for imported pork is likely to trend higher in coming months.

For more analysis of the August report, listen to this report from Erin Borror, a USMEF economist.

 
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