EU has become the world's largest exporter of pork
Europe as a block has become a major player in the global pork market, increasing the volume exported in the last 10 years from 20% of global import demand to 41% of that. Trade wars between the US and its North American neighbors as well as tensions with China have blocked the chance for US pork to increase its share (33%) in the global market, according to Canadian Pork Council.
Not even Canada, one of the important suppliers of pork in the Chinese market, didn't perform very well in the new geopolitical climate created by the Trump administration. Much more, for almost half a year, Canadian pork imports were banned in China and the beginning of 2020 does not show any signs of relief for the industry.
"In 2010 Canada supplied 20% of global imports. In 2019 that share had declined to just 15% of the world’s imports being supplied by Canada. Canada’s losses were broad-based losing share to all major markets except China and Mexico.
Interestingly, despite the massive growth in U.S. production, it supplied about a third of global import demand in 2010 and about the same in 2019. The EU was the big global export leader as its tonnage more than doubled. It supplied 29% of world import demand in 2010 and 41% last year," commented Kevin Grier, Market Analysis and Consulting, in the latest Canadian Pork Market Report. In 2019, Canadian pig producers have seen losses of $5.46 per pig, with the first half of the year marking a positive margin of $3.90. In January 2020, losses were $29.41 per finished pig.
"It appears that as the North American industry becomes more and more export-driven the volatility increases. Particularly for the producer at least. This seems to be part of the push for ever-increasing integration - placing pork as the profit centre and pig production as a cost centre," stated Bob Fraser, Sales & Service at Genesus Inc.
Meantime, the EU pork industry is expecting another year with high volumes of exports to China as the country's pig meat deficit is expected to reach almost 5 million tonnes due to the ASF situation.
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