UK Bacon and Ham Imports Reach a Record-breaking $4,921 per Ton in May 2023

UK Bacon and Ham Imports Reach a Record-breaking $4,921 per Ton in May 2023

In May 2023, the price of bacon and ham in the United Kingdom surged to $4,921 per ton. This marked a 3% increase from the previous month and an average monthly growth rate of 2.0% over the period from May 2022 to May 2023. The most significant price increase occurred in November 2022, with a 12% rise from the previous month. Significant price variations were observed among the major supplying countries, with Italy having the highest price of $14,592 per ton and Denmark having one of the lowest prices at $3,917 per ton. The Netherlands experienced the highest rate of price growth at 2.7% from May 2022 to May 2023, while other major suppliers recorded more modest growth rates. In terms of product types, hams, shoulders, and cuts of swine had the highest price at $9,971 per ton, while pig meat other than hams or bellies had one of the lowest prices at $4,785 per ton. In May 2023, the United Kingdom imported 15,000 tons of bacon, ham, and other dried, salted, or smoked pig meat, representing a rapid 15% increase from the previous month. The total import value reached $76 million in May 2023, with an average monthly growth rate of 1.6% from May 2022 to May 2023. The main type of imported bacon and ham was pig meat other than hams or bellies, accounting for a 93% share of total imports. The Netherlands, Denmark, and Italy were the primary suppliers of bacon and ham to the UK, together comprising a 91% share of total imports. During the period under review, Denmark experienced the highest growth rate among the major suppliers. The Netherlands was the largest supplier in terms of value, followed by Denmark and Italy.

Source: IndexBox Market Intelligence Platform

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