JOC Insights by Mario Moreno: Meat Exports Decelerate in 2012

U.S. containerized exports of meat (HS code 02) rose 3.2% in 2012, following a jump of 21.7% in the prior year. The index shows that exports more than doubled from 2004 to 2011. Between 2007 and 2012, exports grew at a compound annual growth rate of 10%. Index is up by 140% from 2004 January base.

US Meat Exports in TEUs

PORT OF SAVANNAH HELD LARGEST SHARE OF MEAT EXPORTS IN 2012
The Port of Savannah handled the most outbound shipments of meat in 2012, accounting for a 20% of all meat exports, unchanged from 2011. Th e largest recipients of U.S. meat shipped from the port of Savannah last year were China, Angola, Hong Kong, Georgia, and Taiwan. Port of Oakland follows Savannah with a 16% share. Los Angeles holds a 12% share while Houston and Norfolk each hold a 7% share. The share of each port is unchanged from 2011. These 5 ports account for 63% of all U.S. meat outbound shipments.

US Meat Exports

CHINA RAPIDLY GAINING SHARE OF U.S. MEAT EXPORTS
Japan and Mexico are 2 of the largest markets for U.S. meat exports by $ value. Japan held an 18.9% market share in 2012, up slightly by 0.2 percentage points over 2011, but still down by a 0.2 point from 2010. Mexico accounted for a respectable 17.2% market share last year, but its share is down by almost 2 full points. Meat exports to Japan and Mexico have grown modestly last year. Meat exports to Russia and China increased by 27% each last year. Russia used to be a top market up until 2009, but due to import limitations and the country building toward self-sufficiency in its meat sector, Russia is not a top market anymore. China’s share of exports is rapidly increasing, from 2.6% in 2010 to 6.2% in 2012. Exports to that market jumped 157% in 2011 but slowed the pace to 23% in 2012. Demand for meat will stay strong as long as the incomes on millions in China continue rising.

Losses in market share were seen in Taiwan and Vietnam. Taiwan holds a share of 2.1%, down from 3.1% in 2010, while Vietnam holds a share of 1.4%, down from 2.1% in 2010.

Chart 3

Source: International Trade Commission; author’s own calculations

More of Moreno’s trade and economic analysis can be obtained by subscribing to JOC Insights or by following him on Twitter @MarioMoreno_JoC.

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