After an early-2010 slump caused mainly by Japan’s high domestic pork inventories, U.S. pork exports to Japan performed much better in the second quarter. April and May were both solidly in the “plus” column, and June exports to Japan set a new monthly record of 101 million pounds valued at nearly $163 million.
In the attached audio report, Joel Haggard, U.S. Meat Export Federation senior vice president for the Asia Pacific region, discusses the business climate for U.S. pork in Japan, noting that this market offers excellent opportunities for a growing variety of high-value, chilled pork cuts that deliver a strong return for U.S. producers.
Haggard also explains that while Japan’s currency has been extremely strong versus the U.S. dollar, this is really not an advantage when it comes to pork exports. This is because of Japan’s minimum import price (aka gate price) policy on imported pork.
For more information on the mid-year export results for U.S. pork and beef, please visit www.usmef.org. If you have questions or would like a more extensive interview with Mr. Haggard, please don’t hesitate to contact me. Thank you!