Australia: Pork production expected to decline in 2023

Published 2023년 3월 15일

Tridge summary

Australian pork production is projected to decrease by 3% in 2023 to 425,000 tonnes swt due to higher production costs experienced by pig farmers. Pork consumption is also expected to slightly decrease to 630 thousand MT (CWE) in 2023, following a record high in 2022. Approximately one-third of Australia's pork needs are imported, with imports expected to remain stable at 240k MT (CWE) in 2023. Pork prices imported from the EU are predicted to rise in 2023, which could reduce pork imports into Australia. Exports, which make up about 8% of production, are expected to remain stable at 35 thousand MT (CWE) in 2023.

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

Original content

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 ...

Source: 3tres3