EU pork production forecast to decline, as recession affects global pork sector

Published Feb 7, 2023

Tridge summary

Rabobank predicts a 3-4% decline in EU pork production for 2023, following a 5% drop in the first ten months of 2022. This decrease is due to various extents of decline in major producing countries, except the UK, which saw a 2% increase. EU pork exports fell by 18% in the year to October, with a 43% decrease in volumes to China. High piglet prices have improved margins for breeding pigs but pressured fatteners. Global pork trade is expected to see a slight increase in Q1 2023, although growth may be limited due to supply constraints in exporting countries and demand increases in importing countries. The reopening of China's pork market will impact global supply-demand balance, but local production growth in Southeast Asia and China may reduce import demand.

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

Original content

EU pork production is expected to decline by around 3 to 4% this year, according to the latest quarterly pork report from Rabobank. EU pork production fell by 5% between January and October 2022, with most countries suffering declines, albeit to varying degrees. In October 2022, production was down by 10% in Germany, 9% in Poland, 5% in Denmark, 2% in Spain, 2% in France and 0.5% in the Netherlands. In contrast, production in the UK was up 2% in the year to October due to higher carcase weights resulting from the backlog. EU pork exports declined by 18% in the year to October, with volumes to China down by 43% in the year to date, despite slowed a small rebound in the second half of the year. However, the figures suggest that volumes exported to other destinations decreased as China volumes recovered. Rabobank predicts that in the first quarter of 2023, exports from the EU and UK to China will decrease relative to the end of 2022, as Chinese demand is forecast to soften in ...

Source: PigWorld