Global pork production to decline slightly in 2024

Published 2024년 12월 2일

Tridge summary

The FAO forecasts a slight decrease in global pork production to 124 million tonnes by 2024, primarily due to declines in China, Thailand, and Canada. This is despite growth in the United States, Russia, Vietnam, Europe, and Brazil. The Chinese decline is part of a strategy to reduce oversupply and low prices, while Africa swine fever continues to impact Southeast Asia. In contrast, the US increase is led by productivity gains and lower feed costs. Russia and Brazil expect to increase production to meet demand, and Vietnam's production is expected to grow, despite ASF challenges. The European Union's pork supply is projected to remain stable, supported by a large piglet supply, higher slaughter numbers, and lower feed costs.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: 3tres3