U.S. Pork Exports Experience Growth in 2024

In December 2024, U.S. pork exports reached a total of 267,132 metric tons (mt), slightly lower than the substantial volume recorded in the previous year. However, the export value experienced a modest increase of 1%, totaling $771.8 million. This performance contributed to an impressive full-year export volume of 3.03 million mt, marking a 4% increase compared to the prior year and surpassing the previous record of 2.98 million mt set in 2020. The overall export value for the year reached $8.63 billion, reflecting a 6% rise from the record established in 2023.

Notably, in addition to Mexico, pork exports achieved both volume and value milestones in several regions, including Central America, Colombia, New Zealand, Malaysia, and various Caribbean markets. Furthermore, value records were set in South Korea, Australia, and the Dominican Republic.

Mexico: A Key Market for U.S. Pork

Pork exports to Mexico totaled 1.15 million metric tons in 2024, representing a 5% increase from the already substantial total exported in 2023. The export value surged by 10%, reaching $2.58 billion, more than doubling since 2020. This growth underscores Mexico’s importance as a primary market for U.S. pork.

Colombia’s Rising Demand

Colombia demonstrated a remarkable appetite for U.S. pork in 2024, with exports soaring by 26% to reach 142,035 mt. This figure significantly exceeded the previous record of 106,456 mt set in 2021. The export value from the U.S. to Colombia jumped 32%, totaling just under $360 million and surpassing the previous high of $272 million achieved in 2023.

Central America Records Growth

The Central American market also experienced record-breaking growth in 2024, with pork exports climbing 21% to 166,086 mt, valued at $522.9 million, an increase of 29%. This performance was nearly 30,000 mt above the prior year’s record, with the value exceeding the previous high by more than $117 million.

South Korea’s Strong Performance

Despite a slowdown in the fourth quarter, pork exports to South Korea achieved an annual value record of $727.9 million, marking a 15% increase from 2023. The export volume reached 214,429 mt, up 12%, making it the second largest on record, as South Korea surpassed Canada to become the fourth largest destination for U.S. pork.

Growth in Oceania Markets

Exports to the Oceania region saw a significant boost, increasing by 29% from the previous year to 102,747 mt, the largest volume recorded since 2019 and the second largest overall. The export value soared by 32%, reaching a record $374.8 million, driven by an increase in U.S. market share in both Australia and New Zealand.

Record Exports to the Caribbean

A solid performance in the Dominican Republic, along with newfound demand in Cuba, contributed to record pork exports to the Caribbean, totaling 127,237 mt, up 5% from the previous year. The export value climbed 7%, reaching a new high of $380.6 million. Notable increases were also observed in the Leeward-Windward Islands, Netherlands Antilles, Trinidad and Tobago, and Turks and Caicos.

ASEAN Market Growth

Pork exports to the ASEAN region experienced a notable uptick, reaching 76,579 mt, a 19% increase from 2023. The export value also rose by 13%, totaling $169.2 million. Noteworthy growth was recorded in the Philippines, where exports increased by 19% to 60,259 mt, valued at $120.8 million. Meanwhile, shipments to Malaysia surged by 51% in both volume (7,796 mt) and value ($24.6 million), largely due to the need to compensate for lower domestic production caused by African swine fever amid rising pork demand.

Steady Demand from Japan

Despite the challenges posed by a persistently weak yen, Japan’s demand for U.S. pork remained relatively stable in 2024. Export volume decreased by 2% year-over-year to 336,692 mt, while the value dipped by 1% to $1.38 billion. This adjustment reflects a market trend toward increased imports of frozen pork at the expense of chilled pork due to exchange rate fluctuations.

China/Hong Kong Market Trends

Although overall pork exports to China/Hong Kong declined in 2024, demand for pork variety meat regained momentum in the latter half of the year. Total exports to the region fell by 6% to 467,227 mt, with value decreasing by 10% to $1.14 billion. Notably, pork variety meat exports comprised 321,811 mt, accounting for more than half of the U.S. industry’s global export volume, valued at $765 million.

U.S. Pork Variety Meat Exports

U.S. pork variety meat exports reached record levels in 2024, totaling nearly 590,500 mt. While Mexico remained the second largest market after China, exports to Mexico saw slight increases. The main drivers of growth were other markets rounding out the top five, including the Philippines, Canada, and South Korea.

February 6, 2025/ USMEF/ United States.
https://www.usmef.org