EU supplies more pork to Korea and Hong Kong

Latest trade data from South Korea and Hong Kong show year-on-year increases in the amount of pork sourced from the EU in the first quarter of 2014.

BPEX’s latest Pig Market Weekly reports that Korea imported 2% more pork than a year earlier between January and March but shipments from the EU were up by more than a third.

This situation partly reflected the increased availability of EU pork following the Russian import ban, with lower prices also making EU product more competitive.

Imports from the US and Canada have also been hit by higher prices and lower supplies as a result of the PEDv outbreak; shipments were down by 10% and 18%, respectively. Imports from Chile were also lower on the year, partly due to some pork being diverted to Russia, also a factor reducing Canadian shipments.

During the first quarter of this year, Hong Kong imported 15% more pork than a year before. Again, the EU increased its market share, with a 19% rise in volumes as prices were relatively cheaper.

This was particularly true of German product, which meant that its shipments almost trebled. This hit some other EU exporters, such as the Netherlands and Spain, whose volumes were lower on the year.

The two leading non-EU suppliers, Brazil and China, also grew their shipments. However, imports from the US fell slightly, partly due to significantly higher prices.

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