The US Department of Agriculture raised the forecast for world pork production

Published 2023년 1월 16일

Tridge summary

The US Department of Agriculture has increased its global pork production forecast for 2023 by 3%, reaching 114.09 million tons, primarily due to an increase in China's production. Despite this, China will continue to be the largest pork importer. The EU is expected to be the largest pork exporter in 2023. Beef and chicken meat production forecasts remained largely unchanged, with high beef prices indicating limited supplies and strong demand. The National Union of Pig Breeders in Russia predicts an increase in pork production, which could lead to decreased prices.

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

Original content

The US Department of Agriculture raised the forecast for world pork production in 2023 by 3%: from 110.98 million tons to 114.09 million tons against the backdrop of an increase in the production of this meat in China. In the previous review, in October 2022, American analysts estimated the production potential in China at 52 million tons, now it is 55 million tons. It is expected that the demand for pork in China will increase due to the recently lifted restrictions on COVID-19. Production projections for other countries remain largely unchanged, the survey said. Thus, the output of pork in the EU countries can reach 22.58 million tons, in the USA - 12.47 million tons, in Brazil - 4.44 million tons, in Canada - 2.07 million tons, in Mexico - 1.6 million tons The American agricultural department does not give an estimate of production in Russia. Despite the expected growth in production, China will remain the largest importer of pork and in 2023 may purchase 2.1 million tons (1.7 ...

Source: AgroInvestor