According to BPEX, Canadian exports weakened by 3% year on year in the first nine months of this year, to 646,400 tonnes. The leading markets for Canadian exports recorded increases, including higher shipments to the US (up 4%), Japan (up 4%) and Russia (up 58%). These three markets collectively accounted for 65% of total Canadian exports. The rise in supplies to Russia was a result of its ban on EU pork, which provided extra opportunities for Canadian exporters. However, the third quarter figures show lower exports to Russia as the import ban was extended to Canada in August.
Declines across several Asian markets, mainly due to increased competition from EU pork, contributed to the overall downturn in exports. In particular, shipments to China came down by 21%, while exports to South Korea, the Philippines and Taiwan also declined. As for the US, export prices were significantly higher, so the total value of Canadian exports reached C$2.3 billion, 22% up on January to September 2013.
Thursday November 13, 2014/ BPEX-Pig Market Weekly/ United Kingdom.