October 6, 2022

SHSU Houstonian Online

Read all latest news headlines from USA, UK and around the world, get today's breaking news and live updates on politics, elections, business, sports, economy,​ …

US pork exports to China cut in half

US pork exports to China cut in half

US pork exports to China halve in first half of 2022 This was reported by the United States Export Federation (USMEF). Due to rising exports, especially to key customer Mexico, the overall decline in exports was less, but still around 18 percent.

Exports to China, including Hong Kong, fell 53 percent to 222,784 tonnes. Its value fell 46 percent to $595.1 million. The main reason for this is the increase in China’s own production. Exports also faced problems due to China’s coronavirus-related inspections and restrictions.

Due to increased domestic production, prices in China remained low. According to the USMEF, these are now up 40 percent and exports to China have rebounded in May and June.

Mexico is a major buyer

Due to a decline in sales to China and an increase in exports to Mexico, the country is once again the most important buyer of pork from the United States. Exports to Mexico rose 18 percent to 469,295 tons worth $881.5 million.

After a quiet start in June, exports to Colombia also rose sharply by no less than 90 percent. Overall, exports to the country increased by 10 percent to 51.8 million tonnes. Exports to the Dominican Republic rose 49 percent to 43.3 million tons in the first half.

Only exports to China in the first half of 2022 were below last year’s levels. The same applies to exports to other major buyers such as Japan, Canada and South Korea.

See also  US Commission of Inquiry: Trump may have violated the rules ...