Follow 
Share

Russian Impact Felt in Exports



(NAFB)--According to statistics released by USDA and compiled by the U.S. Meat Export Federation - exports of U.S. beef moved three-percent higher in volume and nine-percent higher in value in May. Pork exports dropped three-percent in volume and 3.6-percent in value.

USMEF notes the inability of the U.S. to ship beef and pork to Russia is continuing to put a damper on red meat exports this year. USMEF President and CEO Philip Seng says the loss of a key market like Russia ripples through the red meat industry. He says the absence of one of the largest meat purchasers in the world affects the volume of product sold and the price other customers need to pay for it in a competitive marketplace.

Excluding Russia - USMEF reports beef export volume for May increased 12-percent and volume for the first five months of the year rose 3.5-percent instead of falling three-percent. For pork - May exports would be up 3.5-percent in volume over last year if Russia is excluded. Pork export volume for January through May would be down 5.8-percent instead of nine-percent if Russia isn’t included. USMEF says an oversupply of domestic pork in many major export markets is posing a challenge to U.S. exports.

 


Filed Under :  
Topics : Business_Finance
Social :
People : Philip Seng
 Follow 
Share