OPINIO
Trade4go
Feb 24th, 2025
Original content
Driven by cost efficiency, increasing global demand, and supply constraints in competing markets, US pork exports have surged. It reached USD 6.54 billion in 2024, an 8.2% YoY increase. While European pork producers struggled with rising feed costs, the US maintained price competitiveness due to self-sufficient grain production. With lucrative opportunities present, the US is looking to expand its exports to high-performing markets.
Colombia and the Dominican Republic are promising markets due to their dwindling domestic production and pork-based staple food culture.
Figure 1. US Pork(HS code 0203) Export Value Trend
The US achieved a successful export surplus largely due to reduced pork production costs, which were driven by lower swine feed expenses resulting from a drop in soybean and corn prices. In 2022, US corn and soybean prices surged by an average of 51.4%, coinciding with swine feed costs of USD 1.51 per kilogram (kg) in the EU and USD 1.42/kg in the US. In 2023, the gap between swine feed costs in the US and the EU widened further, with costs at USD 1.44/kg in the US and USD 2.00/kg in the EU. These YoY and cross-regional changes in feed prices helped boost pork producer profits and reinforce the US export surplus.
Figure 2. US corn and Soybean Prices
While raw price fluctuations may seem minor, feed costs make up approximately 64% of total production expenses, significantly impacting overall costs. As seen in Figure 3, feed costs have been steadily rising since Q3-2019 as most pork producing countries are reliant on swine feed imports due to their lack of domestic grain production.
As feed costs rise, pork producers inevitably pass these expenses onto consumers, leading to higher pork prices. This pricing shift could influence consumer purchasing behavior, potentially driving demand toward more affordable protein sources like poultry or processed meat products.
Additionally, producers facing tight margins may seek cost-cutting measures, such as adjusting feed compositions or optimizing supply chain logistics. However, these adjustments can come with trade-offs, including potential impacts on meat quality or production efficiency.
Figure 3. Pork Production Cost Percentage per Factor
The US is in a prime position to expand its exports to other countries. The US’ top 3 pork export markets in 2024 are Mexico, Japan, and South Korea with the total export value amounting to almost USD 4 billion. Among the major importing countries, Dominican Republic and Colombia have been showing steady increases in US pork imports since 2020 without any negative import growth. Both countries accounted for a significant portion of US pork exports, purchasing USD 250 million worth of pork in 2023. The Dominican Republic and Colombia have steadily increased their pork imports by 16.78% and 10.68%, respectively, and are anticipated to expand their imports in the coming years mainly due to lack of domestic production.
Although the import values of the Dominican Republic and Colombia are significantly lower compared to Japan or South Korea, their close proximity to the US and evolving food consumption trends suggest strong potential for future US pork exports.
Colombia's pork industry has been experiencing significant expansion since 2012, with production increasing by 137.5%, positioning the country as the fifth-largest pork producer in Latin America. According to Interpork (Spanish White Porcine Sector's Interprofessional Organization), Colombia produced 564,780 metric tons (mt) of pork in 2023, reflecting a notable 24.18% increase compared to 2019.
However, despite this significant growth, domestic demand continues to outpace supply. In 2023, pork consumption in Colombia reached 563,000 metric tons, representing a 487% surge over the past decade, the highest growth rate in Latin America. Although Colombia's domestic pork production has expanded significantly, the country still faces a supply deficit as it struggles to meet rising consumer demand. As a result, pork imports have increased by 21% between 2019 and 2023 to bridge the gap, with US pork taking over more than 68%.
Figure 4. Domestic Pork Production & Global Pork imports of Colombia
Although poultry meat dominates the Colombian diet, pork continues to play a significant role. Pork consumption has been increasing steadily from 2022 reaching 1,327 metric tonnes in 2024.
Pork is a staple in Colombian cuisine, with Lechona and Chicharrón being two of the most beloved traditional dishes. Lechona, a slow-roasted whole pig stuffed with rice, peas, and spices, is commonly served at celebrations and special gatherings. On the other hand, chicharrón, deep-fried pork belly, is a staple in everyday meals, often enjoyed with rice and vegetable dishes. Despite growing global trends favoring plant-based diets, Colombian consumers continue to embrace pork-heavy meals, making it an essential part of both traditional and modern food culture. The affordability, versatility, and deep-rooted cultural significance of pork contributes to the increase in demand for pork imports.
Figure 5. Domestic Consumption Trends of Various Meat in Colombia
The Dominican Republic has also been a strong importer of US pork, with 2023 exports to the Dominican Republic increasing by 18% compared to 2022, reaching USD 276.2 million. The Dominican Republic’s domestic pork production has seen a dip from 2023 due to a record high epidemic outbreak named African Swine Fever (ASF). This disease has spread across nearly the entire Dominican Republic, with confirmed cases reported in 28 of the country's 31 provinces. Despite implementing an emergency response plan, the Dominican Republic has struggled with limited resources, making it difficult to enforce a surveillance program and control animal movement. Consequently, it resulted in the loss and culling of 210,000 pigs, which accounts for approximately 30% of the country's swine population and increasing the Dominican Republic’s dependence on pork imports from the US by 18% to USD 276.2 million in 2023.
Figure 6: Pork Production And Imports of Dominican Republic
Pork remains as a central component of the traditional Dominican diet. This is because a significant portion of the Dominican Republic's population struggles to afford affordable and high-quality food, as the steep cost of healthier options makes balanced diets inaccessible. This is why most Dominican consumers are uninterested in healthy diet trends as affordable high calorie food is key to their everyday survival. As a result, cheaper, high-calorie foods remain a staple, reinforcing reliance on more affordable yet less nutritious pork.
For these reasons, Dominican consumers have a reliance on pork imports from the US as the dwindling domestic production cannot meet the full demand of consumers. Furthermore, US pork is known for its high quality, which enhances the overall standard of everyday affordable pork dishes.
Figure 7. Pork Consumption Trends of Dominican Republic
The US pork industry has a strategic opportunity to expand in Colombia and the Dominican Republic, where rising consumption and domestic supply deficits create a strong demand for imports. Colombia’s growing pork demand exceeds local production capacity, while ASF outbreaks in the Dominican Republic have severely disrupted supply, increasing reliance on US pork.
Beyond supply shortages, the US benefits from lower production costs, outperforming European competitors who struggle with high feed prices. Additionally, geographical proximity gives US pork a logistical advantage, ensuring lower transportation costs and faster delivery.
Given these factors, Colombia and the Dominican Republic will remain key growth markets for US pork exports. The combination of strong demand, cost advantages, and logistical efficiency positions the US as the dominant pork supplier in these regions, with further expansion expected in the coming years.
Read more relevant content
Recommended suppliers for you
What to read next
