UK pigmeat commerce, each methods, over the primary 9 months of 2024 is now broadly according to the identical interval in 2023, as home provides rise, the newest figures from HMRC present.
Pigmeat export volumes grew by 4.5% 12 months on 12 months in Q3, pushed by larger manufacturing ranges. Shipments, together with offal, totalled 72,500t from July to September, 3,100t greater than the identical time final 12 months. Development was not constant throughout every month, with July and September recording robust 12 months on 12 months enhancements, however August was marginally decrease.
Increased home slaughter and pig meat manufacturing has been the principle driver for bigger export quantity. Defra knowledge reveals that in Q3 2024, UK pig meat manufacturing was over 7% excessive 12 months on 12 months, in line with AHDB senior analyst Freya Shuttleworth.
For the 12 months up to now, January to September, complete pig meat exports stood at 221,000t, simply 200t beneath the identical interval in 2023.
Motion has been blended throughout product classes, with volumes of contemporary/frozen pork and bacon declining by 3,000t and a couple of,700t respectively. Nevertheless, shipments of offal continued to surge, up by 4,400t, practically matching the report volumes recorded in 2022. Processed pig meat and sausages additionally continued to make good positive factors, albeit from a smaller base.
All the UK’s key buying and selling companions, besides the EU27, have recorded quantity progress in 2024.
China stays, by a distance, the most important single nation market. Contemporary and frozen volumes have been down 11.5% to 29,800t over the primary 9 months of the 12 months, however offal shipments have been 14.4% as much as simply over 57,000t.
Imports additionally regular
In the meantime, complete imports volumes to the UK have been down by 2% 12 months on 12 months in Q3, however, as with exports, have been broadly according to 2023 for the 12 months up to now
UK pig meat imports (together with offal) totalled 192,900t in Q3, 4,000t decrease than in the identical interval final 12 months, pushed by losses in contemporary/frozen pork, bacon and processed pig meat.
For the 12 months up to now, January to September, complete pig meat imports, at 580,700t have been up by simply 1,800t 12 months on 12 months.
Imports of processed pig meat and bacon have been in decline for the reason that begin of the 12 months, and have been down 5,100t and three,600t respectively. Sausages imports, then again, have seen constant quantity progress 12 months on 12 months, and have been up 6,400t. Month-to-month volumes of contemporary/frozen pork have seen blended actions in 2024 up to now, however total, they’ve edged up.
Ms Shuttleworth added: “The UK will at all times import comparatively excessive volumes of pig meat on account of being unable to satisfy required volumes for client preferences domestically. Loins and bellies are notably common.
“Some help for imports is pushed by the foodservice sector which is extra possible to make use of non-British product than the retail sector. Though foodservice volumes have been gaining power (Kantar, 52 weeks ending 01 Sep), the quantity of pig meat bought on this sector is much outweighed by retail and plenty of main retailers maintain commitments to British product.”
She added that elevated home manufacturing and improved product availability might have lowered import demand through the interval, serving to clarify the UK pig worth has remained comparatively steady in latest months, whereas EWU costs have fallen sharply.
This has led to the value differential between the EU and UK grade S reference worth rising to 44p/kg within the week ending Novembe 24, in comparison with a niche of 24p/kg w/e 11 August.
