US reveals record stats for 2014 export values

By Georgi Gyton contact

- Last updated on GMT

US reveals record stats for 2014 export values

Related tags: Red meat exports, Meat, United arab emirates, Beef, Lamb, Pork

The value of US beef and pork exports hit record figures in 2014, with double-digit growth on the previous year, according to the US Meat Export Federation (USMEF).

Data published by the US Department of Agriculture (USDA) and compiled by USMEF revealed that beef export values increased 16% to $7.13bn, for the full year in 2014, while pork values were up 10% to $6.67bn.

Volumes of beef increased 2% year-on-year, to just under 1.2 million metric tons (mt). Pork volumes increased by the same percentage, to 2.18mt.

According to USMEF, the country overcame significant challenges during the course of the year, including restrictions to the Russian and Chinese markets, the increasing strength of the dollar and transport difficulties from the ongoing dispute at a number of major ports on the West Coast.

US beef performed "exceptionally well"​ in key Asian markets across the year, with exports to Japan up 3% in volume and 14% in value, to 241,129mt and $1.58bn, respectively.

New records were also set on exports to Hong Kong, with volumes up 19% to 154,520mt and value up 40% to $1.15bn.

Meanwhile, for pork, South Korea increased its imports by 36% in volume to 135,396mt and 61% in value to $444.6m. Columbia has also significantly increased its supplies of US pork, with volumes up 39% to 47,441mt and 52% in value to $134.11m.

Philip Seng, chief executive of USMEF, said: "2014 was an outstanding year for red meat exports, but headwinds continued to mount late in the year.

"The West Coast port congestion is extremely troubling, because the delays faced by exporters in December have become even more severe in 2015. If this dispute is not resolved soon, the meat industry will have to win back long-term customers who still want our product, but have no choice but to seek alternative suppliers."

US lamb exports dipped 3% in value to $27.33m and 16% in volume, to 10,407mt during 2014. However, gains were made in emerging markets such as the United Arab Emirates, Panama and the Philippines.

Related topics: Meat

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