EU pork trade with East Asia strengthens
Significant gains made with EU pork exports to China, South Korea
October figures published by Eurostat show a 12 percent year-on-year increase in European Union pork exports reaching 170,300 metric tons. The figures also showed a noticeable increase in EU pork exports headed to East Asia.
While the year to date figures show Japan as the main destination of European pork, in September and October, China was the leading destination. Shipments of EU pork to China increased by 10 percent when compared with October 2013. Trade with South Korea also strengthened, making it the second most important market for the EU, as volumes jumped from 8,500 metric tons in October 2013 to 25,600. As Japan begins to pull in more imports from the U.S., the EU’s share is falling, with volumes down 11 percent on last October. Hong Kong and the Philippines are also included in the top five destinations for EU exports in the month, highlighting the significance of Asia to the continent’s exporters since the Russian ban on EU imports. As such, the five Asian markets account for 62 percent of total export sales, up from 50 percent in October 2013. The value of EU exports in October totaled EUR399.9 million (US$471 million), up 9 percent year-on-year.
Similarly, at 113,400 metric tons, EU offal exports also recorded an increase, up 24 percent compared with October 2013, according to a report from BPEX. Even in the offal market, the Asian countries performed strongly, with China and Hong Kong taking over two thirds of the shipments. Volumes to China rose by 39 percent, while the increase to Hong Kong was smaller at 5 percent. The figures also indicate a strengthening of the Philippines and South Korean market. The value of offal exports in October totaled EUR140.6 million (US$165.7 million), up 26 percent on the previous year.