US beef exports reach new heights in key markets in 2022 - USMEF
December exports increased 12% in 2022
15 February 2023
2 minute read
By: A solid December performance capped a record-shattering year for beef exports to Korea, which climbed 4% year-over-year to 291,748 mt. 2022 export value was $2.7 billion, up 13% and setting an all-time record for any single destination, according to a press release from US Meat Export Federation (USMEF). In December, exports increased 12% from a year ago to 24,084 mt, though value trended lower at $192.3 million (down 10%).
Throughout the pandemic, beef export growth to Korea has been driven by soaring retail demand, in both traditional venues and e-commerce. The foodservice sector could receive a boost from Korea’s further easing of COVID restrictions, including removal of the nationwide indoor mask mandate at the end of January.
Beef exports to China/Hong Kong were also record-large in 2022, with volume totalling 278,294 mt (up 16% year-over-year) valued at $2.55 billion (up 22%). But December was a difficult month, as exports fell more than 30% from a year ago in both volume (14,863 mt, down 31%) and value ($132 million, down 33%). China announced sweeping changes to its COVID policies in early December, removing many restrictions on domestic travelers and consumers, and later removed restrictions on cold chain products and international travel. But these changes came amid a massive wave of COVID cases that steadily climbed throughout the month before peaking in most major metropolitan areas in early January.
While beef shipments to Taiwan slowed in the fourth quarter, exports still set new annual records for both volume and value. Exports totaled 64,818 mt, up 3% from a year ago and 2% above the previous high reached in 2020. Export value climbed to $746.9 million, breaking the previous (2021) record by 12%.
Exports of US beef variety meat set an annual value record of $1.24 billion, up 15% from a year ago, despite a slight decline in volume (298,492 mt, down 1%). Export value growth was led by Japan ($534.5 million, up 6%), China/Hong Kong ($175.8 million, up 97%), Egypt ($90 million, up 31%), Korea ($54.9 million, up 45%), Canada ($24.3 million, up 43%), the Philippines ($16.7 million, up 162%) and Chile ($6.9 million, up 61%). Value was also slightly higher to Mexico ($266.6 million, up 1%).
