New research shows diversification of export markets a priority for US producers
The U.S. pork industry has opportunities to expand exports into Vietnam and the Philippines, according to new research.
Two new pork market assessments were prepared by global research firm Gira with funding from the Pork Checkoff and the U.S. Department of Agriculture Service Emerging Markets Program and showed how the U.S. pork industry can achieve long-term success in these two growing Asian markets.
“The annual Pork Checkoff producer survey identified diversification of U.S. pork exports as a top priority,” said Norman Bessac, vice president of international marketing for the Pork Checkoff. “These reports will help exporters position the U.S. pork industry as a supplier of choice in both countries, helping to expand our export options and create even greater value for the more than 60,000 pig farmers here.”
Vietnam and the Philippines are expected to see increased demand for pork and pork products as they recover from African swine fever (ASF) and the coronavirus (COVID-19) pandemic.
“As Vietnam and the Philippines recover from COVID-19 and ASF outbreaks, pork consumption and import demand will increase,” the Pork Checkoff said. “This projected increase is counter to other key markets, where pork consumption is expected to shrink by 2030. The predicted growth in these two markets is based on the rise in the middle classes and pork’s popularity in Vietnamese and Filipino cuisines.”
Both countries are seeing rising populations as well as increasing disposable incomes, which lead to more protein consumption.
“Exports are one of the greatest opportunities for our industry’s future success, but it’s also our greatest risk if we rely too heavily on a few international markets,” said Curtis Meier, a pork producer from Iowa. “This market research and future studies will provide information that may help develop new markets and create stable opportunities to generate value for our product internationally.”
In its recent global animal protein outlook, Rabobank said ASF would be a major driver of the global protein industries in 2021. ASF and how countries – most importantly, China and Vietnam – recover from it are the “biggest change driver in global animal protein,” the report said, adding that China’s initial recovery from ASF dominates the pork outlook. Pork production is expected to grow faster than other species in 2021, largely because of the ASF recovery in these two countries.
Rabobank also previously said the Philippines and Vietnam were among the hardest hit by ASF and were expected to see big declines in pork supply.