Market Morsel: Pigs in flight
Back in May 2021 the EP3 team took a look at the rapid growth in imported pork product into Australia over the last three decades. Since the 1990s through to the early 2000s the volume of pork exports from Australia kept pace with import volumes. However, in the last twenty years pork imports have increased dramatically.
Analysis of the trade flow of fresh, chilled and frozen pig meat out of Australia on a value basis over the last five years indicates that southeast Asian nations dominate the trade. Singapore has taken nearly 56% of the total value of Australian pork exports. Outside of the Asian sphere, Papua New Guinea and New Zealand feature prominently, holding approximately 13% and 8% of the Australian export value, respectively.
In terms of pork import flows into Australia, key supply nations are dominated by North America and the European Union. Approximately 46% of imported fresh, chilled or frozen pork into Australia comes from either the USA or Canada. Meanwhile, around 51% is supplied by the EU nations of Denmark, Netherlands or Ireland.