EU pork exports in China to rise, driving prices up
EU pork exports are seen reaching 2.92 million tonnes in 2019, up 9% from 2.68 million last year, according to the latest agricultural market report released by the European Commission.
Last year, pork exports have increased only by 4% due to low imports from China in the first 10 months of 2018. China is the main export market for EU pork and has grown in importance since a Russian embargo on EU supplies was imposed in 2014.
Nevertheless, this year, due to the ASF situation, China will import 10 million tonnes of pork, according to a Rabobank analysis and that will make the prices jump in the global market.
"In 2019, pigmeat exports should grow significantly as Chinese demand rises. Prices are rising as supply tightens and export prospects improve", says the Commision report.
Pork prices in China are expected to grow by 70% until the end of the year, as the Asian country reported a 10% decrease in its national pig inventory in the first quarter, according to an official source quoted by Reuters.
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