Canada – Pork exports (July 2022)
31 de August de 2022
Over the years, the price of U.S. meat has undergone many changes, and for this reason we would like to analyze its evolution for each category of exported meat.
In an overview, the first thing we notice is that the prices of most categories have been rising over the years, as a result of a considerable increase in demand from China.
Let's start explaining the most exported category, pork.
Pork
The most exported specific products with this origin are: Frozen or chilled pork pieces and more specifically, hams and half shoulders including legs. In all these years, a total of 3,060,175,273 kg have been exported. Its demand has driven its price up, but in 2018 after swine fever pork was withdrawn from the market. In 2020, with the pandemic, it returned to its highest point in export volume.
On the price side, 2018 suffered the consequences of swine fever and the price dropped to USD 1.50/kg. Higher volumes were exported again at the end of 2019 and the price per kg rose to $2.17. In 2021 it reached its highest price: $2.31, and in 2022 the price is dropping again ($1.64). This behavior is expected to continue in 2023 as well.
Poultry
It is the second most exported category. It closely follows pork, having exported a total of 1,096,732,401 kg between 2017 and so far in 2022.
As for the price, it has followed a different behavior. After 2019 where it suffered the biggest drop, its price has been on the rise. It is currently at $3.25 per kilo. The explanation for this could be found in the fact that domestic production was higher due to lower purchasing power in China. But with the development of technology, innovation and services within the country, the GDP has come close to U.S. levels. As a result, the volume of imports becomes much higher also due to the demand for products.
The progressive increase in this category is also due to the fact that a few years ago the demand for poultry was much lower, and since 2020 such large volumes are demanded and exported, its price also increases.
Beef
It is ranked 3rd. From 2017 to 2020 its price was decreasing. But with the arrival of 2020, the pandemic and export restrictions, its price has risen to $9.38 per kilo today.
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