Analysis Pigs & Pork
Brazilian pork meat export shows strong growth again
The Brazilian pork meat export also increased significantly on a yearly basis in October. Diversification remains the keyword, as Brazil manages to offset the weak export to China.
The total export amounts to 130,900 tons. This is historically the second strongest performance. In total, compared to October 2023, the export increased by 40.7%. That month, Brazil exported 93,000 tons of pork meat. Due to higher pork meat prices, the export increased by a whopping 54.4% from $200.3 million to $313.3 million.
Over the whole year, the export is 10.7% above last year's level. In the first ten months of the year, Brazil exported 1.1 million tons of pork meat. The year before, the country exported 1 million tons. The value of the export is also higher, although the lower pork prices from the beginning of the year still have an impact. In total, the export value increased by 5.2% to $2.48 billion.
Significant Increase
Brazil is already close to the export volume of 2023. In the first ten months of the year, the export was already at 91.9% of last year's level, according to data from the Ministry of Agriculture. The export is even 1% higher than in 2022. In that year, Brazil exported 1.109 tons of pork meat.
Four regions clearly benefit from this success. The export from Santa Catarina increased by 45.7% to 68,600 tons. Rio Grande do Sul saw the export increase by 25.6% to 27,600 tons. The export from Paraná increased by 44.5% to 20,600 tons. Mato Grosso do Sul exported an extra 54.6% of pork meat. That is an increase of 54.6%. There was also a region that experienced a significant decrease in export. The export from Mato Grosso decreased by 19.2% to 3,000 tons.
Diversification
Just like in the beef market, diversification is the key behind Brazil's pork export success. The export to China historically led the Brazilian export. Due to the weak Chinese pork market, the export to that country significantly lagged in the first ten months of the year. The export decreased by a whopping 40.6% to 199,900 tons. The export to Hong Kong also visibly decreased, but less strongly than the export to China. In total, the export to the country decreased by 11.8% to 89,400 tons.
This difference is almost completely offset by the growth of the export to the new top destination, the Philippines. The export to the country grew by a whopping 103.3% to 206,000 tons. Additionally, the export to Chile also increased significantly. In total, the export increased by 33.9% to 92,500 tons. Finally, the export to Japan increased significantly. The export increased by 137.2% to 75,800 tons.
