During June-July 2024, Ukraine significantly increased the volume of pork exports

During June-July 2024, Ukraine significantly increased the volume of pork exports, which exceeded the volume of imports. According to the customs statistics of the State Customs Service of Ukraine, the volume of pork exports in the second month of summer reached more than 400,000 tons, which is 36% more than in June.

Despite the overall increase in exports, pork imports to Ukraine in July decreased by 23.5% compared to the previous month and amounted to almost 150,000 tons. Thus, in the first half of summer, the export of pork significantly exceeded the import, which indicates positive changes in foreign trade activity.

The main foreign market for Ukrainian pork remains the United Arab Emirates, which accounted for 85.7% of the total export volume in the specified period. The total indicators of foreign trade are gradually converging: import of pork for seven months of 2024 amounted to 1.78 thousand tons, and export - 1.64 thousand tons. In currency terms, the difference between imports and exports does not exceed 10% or 0.4 million US dollars.

The reason for this parity of trade flows is the price situation on the Ukrainian pork market. As noted by the Association of Pigs of Ukraine, although the average purchase price of pork in July slightly exceeded the June level, in general, quotations remain at a low level. This forms an organic barrier to imports and explains the decrease in the average customs value of imported products, which decreased by 30 cents per kilogram during the last two months and fell below two dollars in July.

Despite the decrease in the customs value of imported meat, purchase prices for pig carcasses in Ukraine support the competitiveness of Ukrainian pork on foreign markets. The average customs value of exported pork for the seven months of 2024 is US$2.45 per kilogram, which is lower than the customs value of imported pork, which is US$2.5.

As for pork suppliers, the main sources of imports are the countries of the European Union (37.8%) and Canada (62.2%). This information emphasizes Ukraine's activity in international markets and its ability to compete with import suppliers on the world stage.