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Momentum continues for US pork exports to Latin American markets

It was a record year for US pork exports to Latin American markets in 2017 and the momentum has continued into this year.

Jessica Spreitzer, a trade analyst with USMEF says pork production has been on the rise in those markets, but so is consumption.

She says the gap leaves an opportunity for US pork exports.  “Colombia was up 144 percent in production,” she says.  “But at that same time, their total pork consumption was up 195 percent.  Looking at Guatemala, their production was up 7 percent, but their production was up 27 percent.  In Honduras, their production was up 27 percent, but their consumption was up 75 percent.”

Spreitzer says the free trade agreements have helped fuel demand for US pork.  “The US has benefited from preferential duties with its free trade agreements,” she says.  “We have CAFTA-DR and then free trade agreements with Chile, Colombia, Panama, and Peru.  These have all been implemented starting in 2004 with Chile.  Since that time we have seen a big gain in market share in a lot of these markets.”

Through April, US pork exports to the Latin American markets were up on average more than 20 percent in volume and more than 20 percent in value.