Diversification key to success in US meat exports – News Meat & Protein

Shutterstock

News Meat & Protein

Today 1:30 PM – Matthijs Bremer

American meat exports are in good shape, as can be read in a recent press release from the American Meat Export Association. While US pork exports remain consistently high, beef exports are showing tentative signs of recovery. Diversification appears to be the key to success. Especially given the decline in exports of both beef and pork to Mexico, the most important American export market.

Read Foodbusiness for free for 14 days

Get acquainted for 14 days for free and without obligation
with our market information

Do you have a tip, suggestion or comment regarding this article? Let us know

US pork exports are still very strong. Compared to a year ago, exports increased by 0.1% to 260,400 tons. This is the strongest export in nine months. The value of exports rose to $740 million. In the first quarter, exports increased by 6% to 762,700 tons. Meanwhile, the value of exports rose 7% to $2.11 billion during the period

The press release states that the United States is reaping the benefits of the diversification of pork exports. Demand from the crucial Mexican market fell somewhat, but growth in the Korean, Colombian, South American and Australian markets delivered strong results.

South Korean top result
Exports to South Korea were particularly strong. The export volume increased by 44% to 27,500 tons. The value of exports increased even more. In total, exports generated $90 million, about 54% more than a year earlier. The export volume even grew by 54% to 69,400 tons in the first quarter. The value rose 59% to $227.6 million. This makes South Korea overtake Canada as the fourth export destination for American pork. Meanwhile, export volumes in Central America rose 28% to 13,600 tonnes in March, while the value of exports rose 41% to $42.5 million. In the first quarter, exports rose 21% to 37,600 tonnes to $114.8 million.

Exports to Mexico fell for the first time in sixteen months by 11% to 84,800 tons. This led to a 9% decrease in value, which amounted to $178.4 million. Exports still increased slightly in the third quarter. In total, the United States exported 281,200 tons, 4% more than in the same month a year earlier. The value rose 5% to $575.1 million.

Export value increases
Meanwhile, beef exports increased in March to their highest level in nine months. In total, the United States exported 108,000 tons of pork, valued at $889.9 million. Compared to March 2023, exports decreased by 0.3%. In the first quarter, volumes decreased by 4% to 311,000 tons. Meanwhile, the value rose by 6% to $2.48 billion. The relatively good result was mainly the result of strong results in the Caribbean. In addition, the result in the Middle East was strong and sales in South Korea and Japan were good.

Exports reached the second strongest level for US exports to the Caribbean in March. In total, exports increased by 16%, to 3,400 tons. The value of exports rose 12% to the second highest level of $31.1 million. Exports to the Dominican Republic were leading. In total, exports to that country increased by 17% to 1,200 tonnes and the value rose by 30% to a record level of $15.4 million.

Beef exports to the Middle East also performed strongly. Exports increased by 30% to 5,300 tonnes compared to March 2023 and the value increased by 22% to $22.2 million. In the first quarter, exports even increased by 41% to 14,500 tons. The total value of first quarter exports rose 40% to $61.5 million.

Weaker exports to Mexico
Meanwhile, beef exports to Mexico also fell for the first time in fifteen months. In March, exports to the United States’ southern neighbors fell 5% to 16,600 tonnes and the value fell 3% to $100.2 million. Exports continued to rise sharply throughout the first quarter. A total of 56,500 tons were exported, an increase of 12%. The value of exports increased by 18% to $333.5 million.