Bachoco Expands to Asia With First Pork Exports to South Korea

Bachoco has entered the Asian market with its first pork exports to South Korea, marking a significant step in its international expansion. The company has been strengthening its diversification strategy, supported by steady financial growth in 2024.

As reported by Expansión, Bachoco reported net sales of US$99.34 billion in 2024, a 5.7% increase from US$93.99 billion the previous year, according to its financial report filed with the Mexican Stock Exchange (BMV). Of its total revenue, 73% came from poultry sales, while 27% originated from other business segments. The Mexican market accounted for 86% of its sales, while 14% came from the United States.

Despite a 1% rise in the cost of sales to US$79.07 billion, the company improved profitability, reporting an operating profit of US$10.69 billion, up 10.8% from US$6.92 billion in 2023. The increase was driven by operational efficiency, cost optimization, and an improved sales mix, supported by MX$4.66 billion in capital investments. However, this figure represented a 10.45% decline from the MX$5.2 billion invested in 2023, as Bachoco prioritized operational improvements in the United States.

As part of its global expansion, the company has now started exporting fresh pork to South Korea. “This is a fundamental step in our international growth. Fresh meat is one of the most challenging segments in the industry, and we are proud to have achieved this first exports to South Korea, a top destination for Mexico’s pork exports,” said Ricardo Tochijara, Bachoco’s Export Manager for Strategic Markets.

Mexico exported 194,200t of pork to South Korea in 2023, according to the Mexican Pork Producers Organization (OPORMEX), reinforcing the country’s role as a key supplier and positioning the market as a significant growth opportunity for Bachoco.

Since 2022, the company has been investing in the Asian market, beginning with the acquisition of pork producer Norson. “This acquisition aligns with our expansion plan for the pork business and supports our strategy of diversifying into other proteins,” said Rodolfo Ramos, CEO, Bachoco, in a 2022 statement.

Norson, headquartered in Sonora, operates an integrated production business from genetics to distribution. Its products are sold in Mexico and exported to countries including the United States, Japan, China, and South Korea. The acquisition was Bachoco’s second in 2022, underscoring its commitment to expanding beyond poultry and eggs.