China’s im­ports ex­pected to pick up

Irish Examiner - Farming - - FARMMARKETS -

Ger­man ba­con and cull sow prices which have a big bear­ing on EU pig prices held steady over the past week.

In an­other bit of good news on the ex­port front, the lu­cra­tive UK mar­ket, where prices are fall­ing (shed­ding an­other 1.05p last week) but are still nearly 20% above Ger­man prices, saw vol­ume sales of fresh and frozen pork up 3% on the pre­vi­ous year for the 12 weeks ended Oc­to­ber 8. This was the first year-on-year growth in the UK’s fresh pork sales recorded for a 12-week pe­riod, in more than 12 months. And with a 7% rise in av­er­age re­tail prices, ex­pen­di­ture on pork was 10% higher than year ear­lier lev­els dur­ing the pe­riod. De­spite the sub­stan­tial de­cline in China’s im­ports in re­cent months, which cre­ates a risk of over-sup­plied global mar­kets, China’s im­ports are ex­pected to pick up some­what over the rest of the year. Pork im­ports fell 27% in the first eight months, hit­ting the EU hard be­cause ris­ing Euro­pean prices re­duced com­pet­i­tive­ness.

Like the EU, the US has been af­fected by the de­cline in Chi­nese de­mand for im­ported pork this year.

Vol­umes from the US des­tined for China were back 47% year-on-year dur­ing the third quar­ter of this year, de­clin­ing to just 19.3 thou­sand tonnes.

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