USDA: Updated estimates for world pork production in 2023

Published 2023년 1월 30일

Tridge summary

The USDA's 2023 forecasts predict a global rise in pork production, led by China due to increased domestic demand and relaxed COVID-19 restrictions. Asian countries, especially the Philippines, will drive up world pork exports, with the European Union, Brazil, and the United States being the primary suppliers. Meanwhile, global pork imports are anticipated to rise, largely due to the Chinese and Philippine markets. Latin America is expected to see the most significant regional growth in production, with an increase of 2.5%, and a 4.7% growth in exports. Asia's production is projected to increase slightly, while America's production will rise by 1.8%. However, European production is expected to decrease by 0.8%.

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

Original content

Graph 1. USDA 2023 projections. An increase in pork production worldwide is estimated due to increased production in the Asian giant. China's domestic demand is expected to increase as a result of the lifting of COVID-zero policy restrictions. Strong demand from Asian countries will contribute to an increase in world pork exports, with the European Union, Brazil and the United States being the main suppliers. Global pork imports will increase and will find support in the Chinese and Philippine markets. With the reduction of pork import tariffs in the Philippines and the fact that PSA continues to put pressure on local production, a greater volume of imports to that country is expected. The projections for the other countries did not show significant changes. Latin America will show the greatest regional growth, with production reaching 8.05 Mt, which will represent an increase of 2.5% compared to 2022 (7.86 Mt). Likewise, the volume of exports will grow by 4.7%, consolidating at ...

Source: 3tres3