Australia: Pork production expected to decline in 2023

Australian pork production is forecast to decline 3% in 2023 to 425,000 tonnes swt after stronger than expected production in 2022. Pig farmers in early 2023 are experiencing steep increases in costs of production, which should have a negative impact on slaughter pigs and pork production at the end of 2023. Pork consumption is forecast to decline slightly in 2023 to 630 thousand MT (CWE). Consumption in 2022 was the highest on record, and is estimated at 642,000 MT (CWE), but may in part be related to importers taking advantage of lower EU pork prices compared to the previous year . Analysts predict that pork prices imported from the EU will be higher in 2023, which could lower the amount of pork imported into Australia this year. Australia imports over a third of its pork needs ...