Key Topic – Canadian Pork Access to Russia
Canadian pork’s lack of access to Russia
has had a significant impact on Mexico and other key ham markets. Canada’s price competitiveness has also been enhanced by a weak Canadian dollar. Canada’s first-half export volume to Mexico was up 25 percent year-over-year to 45,714 mt. While Canada’s exports hit a 2015 low in July, its exports to Mexico were still up 18 percent to 7,855 mt. The United States still holds the lion’s share of Mexico’s imported pork market – about 84 percent by volume and 85 percent by value, but this is down from 89 percent and 90 percent, respectively, in the first half of 2014. The currency advantage has also helped Canada displace U.S. pork in Australia, another large ham market. Smaller markets in which Canadian pork posted large increases in 2015 include Chile, Trinidad and Tobago, Cuba, Peru, Vietnam and South Africa.
Russia’s embargo (related to the conflict in Ukraine) on most food products from Canada, the United States, the EU, Australia and Norway was recently extended through June 2016 and expanded to include imports from Ukraine.