Global pork trade expected to increase despite sharp drop in Chinese imports

World pork trade is forecast at 10 million tonnes in 2024, an increase of 1.6% from 2023. Growth is primarily driven by anticipated increases in demand in South Korea, Mexico and the Philippines. In South Korea, imports are expected to increase year after year due to tighter domestic supply. Meanwhile, in Mexico, pork imports are expected to increase, supported by strong domestic demand and facilitated by the Anti-Inflation Presidential Decree issued in December 2023, which allows tariff-free imports from countries without free trade agreements with Mexico to throughout 2024. In the Philippines, ongoing challenges related to animal diseases are expected to constrain domestic supply, resulting in greater demand for imports. The extension of the pork tariff reduction until 2028, introduced in June 2024, is expected to further support this trend. However, growth in global import demand will be partially offset by an expected decline in imports from China, reflecting moderate demand ...