Reports that “booming demand” from China is reducing the availability of pork for import by other markets in Asia appears to be supported by the latest import figures to emerge from South Korea, according to AHDB Pork.
While South Korea imported 5% more pork in the first quarter of 2016 than a year earlier, this is a much slower growth than was recorded in 2015, partly reflecting higher domestic production but also possibly due to the rising demand for pork in China.
Noting that Q1 pork shipments from the EU to South Korea were 8% lower than a year earlier, AHDB Pork said that the new figures appeared to provide some support for the view that other Asian markets are being affected by what’s happening in China.
“Canada, which is benefitting from the Chinese market, also shipped less to Korea,” it said. “The reverse was true for the US, however, which faces barriers to accessing China due to its widespread use of Ractopamine.
“This meant the US was able to increase its share of Korean imports from 29% last year to 36% in January-March 2016.”