UK pig meat exports increase again in February

By Bethan Wilkins

As of January 2021 data, the way HMRC collects trade data has changed, which will be reflected in the trade statistics. Comparisons between this and historic data should be treated with caution, and may well be subject to future revisions.

Exports

According to the latest HMRC statistics release, UK exports of pig meat products returned to growth in February, totalling 30,000 tonnes. This is an 11% increase on the same point last year. However, remember that export data is now being compiled in a different way, and so is not strictly comparable to previous years and may well be subject to future revisions.

Nonetheless, the apparent growth was driven by a rise in shipments to Asia. Volumes to the Philippines particularly increased, and this is an area of much interest going forward due to temporary tariff reductions.

Even with the growth in offal shipments in February, total pig meat export volumes for 2021 remain down on 2020 levels across the first two months of the year.

Imports

Imports of pig meat products in February were again well below a year earlier (-19% at 51,500 tonnes). Shipments were down from most suppliers, but particularly Germany and Ireland. Poland was the only major supplier to send more product than in 2020. All the different pig meat products were imported in lower volumes than last year.

Average prices for imported pig meat were down on last year by 9% overall, so the total value of imports was 30% lower at £138.9 million. Farmgate pig prices were very low across the EU early in the year so lower average import prices were expected. However, the extent of this decline has not fully flowed through to import prices. EU pig values have recovered to more normal levels in recent weeks, which may quell any further downward pressure on import prices, especially if demand for EU pork on global markets is strong.

For a wider look at the latest agri-food trade data and impacts of EU-exit, read our analysis here.

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