Mexico

Recovery in pork prices in Mexico

Pork

Pork prices in the Mexican pig market have started a seasonal recovery, despite all the problems caused by the coronavirus health crisis.

Posted on Nov 27 ,10:06

Pork prices in Mexico are recovering as an increase in domestic consumption is supporting the industry in the North-American country. According to Fernando Ortiz, Ibero-America Business Development Manager for Genesus Inc, there are two other factors contributing to the rise in prices. "The productive gap that PRRS has left in many of the large production systems of the country has begun to be reflected in fewer pigs hitting the market. At the same time, there is an increase in the export of pork to international markets, and a decrease in the import of pork," he said in his latest market report.
In states such as Jalisco, with the highest concentration of pigs in the country, producers have obtained an increase of around 10 pesos per kilo in relation to summer prices.
On the other hand, states such as Sonora, one of the largest exporters of pork in Mexico (and one of the lowest domestic prices in Mexico) has presented similar behaviour.
So far this year, Mexico has decreased its purchases of food from abroad, while it has increased its sales, with pork as the product whose demand has increased the most. As for agricultural exports (which include agricultural, livestock and fishing products, among others), SADER indicated that they increased 4.13%, to total $12.628 million.
Said by the federal agency, Mexico has consolidated a surplus of 4.384 million dollars, 26.22% higher than that reported in the same period of the previous year.
One of the products with the highest international demand has been pork, 680 million dollars, with an annual increase in demand of 39.2%, according to SADER. China, Japan and South Korea are the main export destinations for Mexican pork, while North American partners such as USA and Canada have reduced their imports.

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