Pork exports reach 2500 tonnes per month as trade pushes 22 per cent above five-year trend
Australian pork exports are sizzling as demand from Singapore, the Philippines and Asia pushes the trade 22 per cent above the five-year average.
Episode3 market analyst Matt Dalgleish said the current season for pork exports had started slowly, with total pork export volumes running below average trends during January and February.
“However, after April export flows for Aussie pork roared into life and has remained elevated through to October,” Mr Dalgleish said.
“To date, average monthly exports of pork during 2023 has been nearly 2500 tonnes per month.
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“Compared to last year, export flows from January-October are nearly 51 per cent higher and 22 per cent above the monthly pattern set by the five-year average seasonal trend.”
He said Singapore was the dominant trade destination, accounting for 40-60 per cent of the trade most years.
“So far in 2023, Singapore has taken 51 per cent of total Aussie pork exports,” he said.
“The Philippines sits in second-top place for Aussie pork exports, accounting for nearly 14 per cent of the trade flows during 2023.
“Meanwhile, Papua New Guinea and Vietnam are battling it out for third place sitting on 10.9 per cent and 10.1 per cent of total pork exports this year, respectively.”
Three of the four top export destinations experienced above the five-year average seasonal pattern, with Singapore from May-October sitting 73 per cent higher, the Philippines nearly 35 per cent higher — although down 17 per cent on 2022 export volumes — and Vietnam 25 per cent higher during 2023, and 77 per cent stronger than the levels seen during 2022.
“Meanwhile, monthly pork export flows from Australia to all other destinations (excluding the top four countries listed above) has been in a downtrend since March 2023,” Mr Dalgleish said.
“Despite the downtrend, average monthly flows to other destinations during 2023 have run at about 351 tonnes per month compared to average of 333t/m based on the last five years of trade, which equates to pork export volumes nearly 6 per cent above the average monthly pattern.”
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