BPEX has drawn attention to the sharply contrasting trends in UK pork exports and imports revealed in the latest figures published by HMRC, covering trade movements in October.
The figures show a 2% year-on-year increase in pork exports while imports were 6% lower than last year. The imports figure was actually the lowest October figure since 2009 and came despite a record difference between UK and EU pig prices during the month.
The HMRC report also revealed that, for the first time in six months, Germany is the UK’s number one market for pork exports, recording a 4% increase on 12 months ago. With exports to the EU in total down by 5% overall, however, China is now in second place for UK exporters.
Turning to imports, BPEX added: “With UK supplies outstripping demand, UK pork imports in October were 6% lower than last year, at 29,900 tonnes. This was the lowest October figure since 2009 and came despite the record difference between UK and EU pig prices during the month.
“With the exception of Belgium and Ireland, imports from all the key suppliers were lower. Denmark, Germany and the Netherlands account for almost two thirds of the total imports and supplies were down by 2%, 12% and 2% respectively. Given the price drops across the European Union, the value of imports came down by 19% to £55.1 million.”