Exports of Ukrainian pork rise sharply in June, though down 25% overall in H1 2024 - industry association

MOSCOW. July 8 (Interfax) - Ukrainian producers of pork boosted exports 1.5-fold month-on-month in June 2024, while imports have continued to decline, Ukrainian media reported, citing the Pig Breeders Association of Ukraine, with reference to data from the State Customs Service.

Ukraine exported nearly 296 tonnes of pork in June, and imported 195 tonnes of pork at an average customs value of $2.27 per kilogram, according to the media.

"Overall, 2024 has become a very atypical year for foreign trade in pork, because the gap between the volumes of pork imports from abroad and Ukrainian pork exports is not that significant. Thus, overall imports totaled 1,630 tonnes for January-June, which was 71.4% less than the volumes imported in the first half of 2023, and exports for this period were only 25% less at 1,200 tonnes," the analysts said.

The analysts believe that the decline in prices on the domestic market, as observed in the first half of this year, is entirely natural, given that a lower domestic price creates a barrier to imported pork and helps improve the competitive position of the product on foreign markets.

Meantime, the geography in both cases is limited despite the discrepancy between the volumes of exports and imports.

"All pork imported in June came from Canada, and Ukrainian pork was shipped to the United Arab Emirates (UAE) market. According to the results of the first half of 2024, supplies from Canada accounted for 66% of imported pork, and 9 kg out of 10 kg of pork exported outside the country ended up on the market of the UAE," the industry association said.