EU pork exports report increase in August
Duncan Wyatt, Lead Analyst at AHDB, said that although the EU exported a larger volume of pork, the exports decreased in value by 7% to €362 million because "the global markets are under pressure at the moment, so there was a 12% fall in export prices."
The downward trend for the EU pork exports to China continued in August with a 5% decline to 50,000 tonnes. Still, shipments to China accounted for 30% out of EU's total exports. Wyatt pointed out the fact that the EU has not yet benefited from the ongoing trade war between the US and China. "Opportunities have not yet materialised, perhaps due to tough competition from Brazilian product."
Shipments to Japan, which represents EU's most important market in terms of value, fell by 1% to 29,000 tonnes.
The bloc reported a significant growth of 41% in exports towards South Korea, reaching 15,000 tonnes of pork. Still, Wyatt warns that trade with this country "could be underpinned by strategic buying as a risk management against possible disease outbreak or a global upturn in prices."