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Mexico: Pork exports fell about 15% in the first half of the year

The processing industry continues to drive the increase in pork imports despite the increase in international prices. Export volumes continue to be affected by the absence of shipments to China.

Graph 1. International pork trade in the first half of 2023. Prepared by the Economics and Market Intelligence Department 333 Latin America with data from the Agricultural Market Advisory Group Service (GCMA).

Graph 1. International pork trade in the first half of 2023. Prepared by the Economics and Market Intelligence Department 333 Latin America with data from the Agricultural Market Advisory Group Service (GCMA).

6 September 2023
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  • At the end of the first half of the year, pork imports totaled 737,442 tons (t), an increase of 3.5% over the same period in 2022.
  • The total value of imports reached USD 1450.7 million, resulting in an implicit price of USD 1967/t, which represents an increase of 10.6% compared to the average recorded in the same period of the previous year (USD 1779/t).
  • Strong demand from the processing industry continues, driving imports, despite rising prices.
  • The volume of exports consolidated in the first half of the year fell 15.6% compared to the same period of the previous year, from 120,227 to 101,515 tons.
  • The value of exports (USD 401.9 million) decreased by 16.9% and the average export price was USD 3959/ton.
  • The absence of pork sales to the Chinese market would explain, to a large extent, the drop in exports during the period under analysis.

333 Latin America with data from Agricultural Market Advisory Group (GCMA)/ Mexico.
https://gcma.com.mx/

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