Lower import demand in Asian markets
In the period between January and September this year, pork imports into Hong Kong fell by 6%.
According to BPEX, in the period between January and September this year, pork imports into Hong Kong fell by 6% compared with the same period in 2012. This was due to lower demand during the first two quarters. Shipments from the two largest markets, Brazil and China, increased by 8% and 5% respectively. However, the increases were partly offset by a 21% reduction in supplies from the EU, with Germany particularly hard hit.
At the same time, the import market continued to shrink in South Korea, as shipments were down by a quarter compared with the same period in 2012. Imports from all major suppliers were lower, which was a direct consequence of a recovery in the country’s domestic production.