Global pork production to decline slightly in 2024

Global pork production is expected to reach 124 million tonnes in 2024, down slightly from the previous year. The contraction in production in China, coupled with marginal declines in Thailand and Canada, is expected to offset growth in other major producing regions, including the United States, the Russian Federation, Vietnam, the European Union and Brazil. In China, pork production is expected to decline due to government policies to reduce the breeding sow population from 41 million to 39 million head. This policy follows a period of oversupply that has led to a sharp decline in domestic prices. Although producer profit margins have improved, government intervention is aimed at stabilising the market by better aligning supply with demand. Similarly, Thailand is expected to see a reduction in pork production as part of efforts to address oversupply and low prices. In Canada, production is expected to contract due to reduced slaughter capacity, particularly in eastern Canada, and ...