Global pork production revised up 3%

Published 2023년 1월 13일

Tridge summary

A new USDA FAS report predicts a 3% increase in global pork production in 2023, reaching 114.0 million tons, primarily due to higher output in China. This is attributed to the lifting of COVID-19 restrictions, leading to increased pork demand. Despite this, production forecasts for other countries remain largely unchanged. Global pork exports for 2023 are anticipated to rise by 2% to 10.7 million tons, driven by increased exports from the EU, Brazil, and the US, with Asia being the key market. The Philippines will contribute to this growth due to higher imports, which are forecast to rise despite a decline in US exports. The extension of reduced import tariffs through 2023 will further boost Philippine imports, despite African swine fever's impact on the country's production.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to a recent USDA Foreign Agricultural Service (FAS) report, global pork production for 2023 is revised up 3% from the October forecast to 114.0 million tons on higher output in China. Pork demand is expected to strengthen in China due to recently lifted COVID-19 restrictions. Production forecasts remain largely unchanged for other countries. Global pork exports for 2023 are forecast 2% higher from the October forecast to 10.7 million tons as EU, Brazil, and US exports are up on stronger than anticipated demand from key Asia markets. Upward revisions in China and Philippines imports will more than offset a decline ...
Source: Thepigsite

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