Global pork exports face uncertainty with volatile demand in 2023

“Trade is expected to increase modestly in Q1 2023, but it may find growth difficult to sustain through the year, given slow production in major exporting regions like the EU and US,” said Chenjun Pan, senior analyst, Animal Protein at Rabobank. In 2022, pork imports increased across most markets, particularly those to Mexico, South Korea and the Philippines. China, however, saw import volume and hog prices decline significantly. In the coming year, tighter supply is predicted, leading to limited global pork trade. Europe pork production fell by more than 5% last year from the previous year. In October 2022, production dropped by 10% in Germany, 9% in Poland, 5% in Denmark, 2% in Spain, 2% in France and 0.5% in the Netherlands. The United States is forecasted to increase pork production slightly by 0.2% in 2023, the report said. Additionally, US pork exports will likely remain steady to China and Mexico, the latter of which imports 81% of its pork from the United States. Rabobank ...