USDA: Stable global pork production expected in 2023, but lower exports

Published 2023년 4월 14일

Tridge summary

The USDA has updated its global pork production forecast for 2023, slightly increasing it to approximately 114.3 million tonnes from the January estimate, a figure similar to 2022's production levels. This is due to stable production in China, along with modest increases in the US, Russia, Vietnam, and Brazil, but a decrease in the European Union (EU), predicted to fall by 3.2% to 21.8 million tons. The USDA also anticipates a further decline in global pork exports, particularly from the EU, with world pork exports expected to decrease by about 3% to around 10.6 million tons, led by an estimated over 10% drop in EU exports. However, China's pork import demand is projected to remain steady at 2.2 million tons for 2023.

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

Original content

Production forecast slightly up In its quarterly report on the situation on the global market, the USDA revised its estimates of global pork production for 2023 slightly upwards compared to the January estimate. The current forecast for the current year with approx. 114.3 million tonnes of pork is about the same as the amount produced in 2022. According to USDA experts, production in China, the most important country in terms of volume, should remain stable at around 55.5 million tons. The US, Russia, Vietnam and Brazil are expected to see modest increases in production compared to the previous year, while EU production is expected to fall by 3.2%. to 21.8 million tons. This means that the USDA's assessment of EU production is slightly more optimistic than the European Commission's forecast, which predicted a 5.1% decline for the EU. Expected further decline in exports from the EU According to the USDA, foreign trade in pork should continue to decline this year. World pork exports ...

Source: Farmer.pl