Mexico is planning a pig herd expansion
Mexico pork industry is expected to increase the inventory of its swine herd. The number of new sow barns is growing, according to a report released by Genesus.
Last year, the North American country reported a 5.4% increase of the national herd, making it the number one country in the world for percentage swine inventory increase.
"Per capita pork consumption has increased rapidly in recent years, thanks in part to the strong business relationships between U.S. suppliers and Mexican importers, processors, retailers and restaurant operators.
Exports of Mexican pork have increased during recent years. The exports have been diversified to different countries such as Canada, Hong Kong and Singapore, in addition to Japan, China, South Korea and the USA.", reports Fernando Ortiz, Genesus Ibero-American Market Developer.
Of course, the situation is about to change as retaliatory tariffs were imposed on pork imports from the US starting June 5. Through the first four months of 2018, US pork exports to Mexico were 7% above last year’s record volume pace at 282,675 tons, with value up 6% to $505.4 million.
In the near future, US pork imports could be replaced by products from EU as the two sides have negotiated a new trade agreement. For now, Mexico's deficit of pork is about a 1 million tons per year and that situation is making the local producers bullish but it also increase the competition in this market.
"The U.S. Meat Export Federation, USMEF, will continue to emphasize the quality and consistency of U.S. pork to red meat customers in Mexico and make every effort to help U.S. suppliers retain their business. But make no mistake about it, the U.S. industry is going to have to fend off competitors who suddenly have a significant tariff rate advantage and see a clear opening into the Mexican market.", declared USMEF President and CEO Dan Halstrom.
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