Australia's pork production and consumption forecasts in 2021

According to FAS / Canberra, Australia's pork production is expected to increase 1% in 2021 to 425,000 metric tons (equivalent carcass weight, cwe), compared to 419,000 t in 2020, due to higher costs. low feed rates after the end of the drought, as well as high pork prices. Pork and bacon prices in Australia skyrocketed from mid-2019 until early 2020, reaching record levels, largely due to high global prices caused by African Swine Fever (PES). However, in March 2020, at the beginning of the COVID-19 pandemic, the industry reported a significant drop in overall consumption attributed to feedlots, leading to an increase in pork stocks and, consequently, a significant drop in prices. As blockages eased across the country in the second half of 2020, pork and bacon prices also declined, reaching higher levels again. Pork consumption is expected to increase in 2021, as a result of the recovery in demand thanks to restaurants and tourism. The harvest of feed cereals during late 2020 and ...