Sterling factor maintains pork export values despite volume decline

UK pork export volumes continued to decline in November 2016 but still rose in total value, year-on-year, due to the continued weakness of the pound, according to AHDB Pork.

“The low value of Sterling meant that the average unit price for exports rose by 29%,” said AHDB Pork. “This left the value of pigmeat exports in the month up by a quarter at £24.2 million.”

While the value of pork exports rose, the volume of pork exported from the UK in November fell by 3% compared to the previous month. This was driven by lower shipments to Germany, Denmark and the Netherlands.

“Germany was the second largest market for UK pork in November 2015,” said AHDB Pork. “However, a 10% fall in November 2016 meant that volumes going to Ireland overtook it. These declines are likely to be due to limited pork supplies in the UK following lower levels of production for much of the year, with production in November being 3% lower than in 2015.

“The fall was despite double digit increases to the two largest markets for UK pork of China and Ireland, which were up by 25% and 12% respectively.

“Volumes going to China continue to rise despite higher volumes of pig meat that are now going to China from the US and Brazil. However, the rate of the increase has slowed in recent months.”

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