U.S. pork export industry’s banner year continues
U.S. pork exporters have seen an explosion of growth in 2008, the U.S. Meat Export Federation said Tuesday.
Pork exports by volume rose noticeably through July, including a 24 percent increase to Japan, the biggest destination for U.S. pork and pork products. There have also been huge increases to other markets, including a 31 percent increase to Mexico, a 41 percent increase to South Korea, 24 percent growth to Canada and a 153 percent increase to Russia.
The biggest growth market, however, has been China-Hong Kong, with exports there up 324 percent by volume over the same period in 2007. Even a slowing of growth in July to 130 percent, mostly due to increased domestic pork production in China, couldn’t dent the dramatic rise of exported pork to Asian giant.
“Pork exports to China-Hong Kong have been riding an astonishing wave this year, and we knew this pace could not be sustained forever,' said Philip Seng, USMEF president and chief executive, in a statement. 'But these latest results show the diversity and depth of demand that U.S. pork has achieved worldwide. We're not overly dependent on a single market.'