EU pork export value down in April because of lower prices
"China is a valuable outlet for excess supply, however its domestic pork prices are going through a challenging period. Therefore, for the EU to continue to export to this key market, prices need to remain competitive," AHDB trainee analyst, Felicity Rusk, explained.
The volume of pork exports to China increased by 8% in April compared to year-earlier levels, reaching 51,500 tonnes. But the price per tonne for shipments to China declined by 18% compared to the previous year in April, the overall value of these exports falling by 11%, according to Rusk.
Meanwhile, the value of exports to Hong Kong declined by almost a third, with volumes falling 23% year-on-year alongside lower export prices.
Across other areas of Asia, the position is mixed. Exports to Japan and South Korea have increased by 19% (+4,700 tonnes) and 25% (+4,500 tonnes) respectively, with value also rising overall, albeit more modestly. Meanwhile, shipments to the Philippines declined by 25% (-2,800 tonnes), and the value of this trade almost halved.
Volume shipments to the US remained strong in April, increasing by 35% to almost 11,000 tonnes. However, this only translated into a 6% growth in value, reflecting significant price cuts.
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