Brazilian swine industry expected to grow in 2023

Even with the economic uncertainties permeating the world market in 2023, the Brazilian pork industry is expected to grow this year. According to Cepea researchers, the basis is possible increases in domestic and, especially, foreign demand. In Brazil, purchasing power tends to remain weakened, which increases domestic demand for pork, which is more competitive compared to other meats such as beef. Furthermore, industry strategies to invest in diversification and positioning of the pork product in the domestic market should be maintained in 2023, strengthening the demand for the protein. As for the foreign demand for Brazilian meat, the USDA estimates that national exports will increase by 2.7% and the Brazilian Association of Animal Protein (ABPA) estimates a 12% increase. This will depend on the industry's diversification of destinations and the consolidation of partnerships signed last year. On the supply side, estimates made by Cepea indicate a ...