FAO: Global pig meat exports expected to be 11% lower this year

Total pig meat exports in the world are forecast to total 11.3 million tons in 2022, down 11.3% from last year, according to the FAO's Meat Market Review - Emerging trends and outlook 2022. This reduction in total exports is driven mainly by a nearly 45 % anticipated decline in sales by China, limiting overall pig meat imports to 2.7 million tons, accounting for around 24% of global trade, although much lower than the 45% level in 2020. This year's decline is mainly due to lower imports in the first half of the year amid abundant domestic production and low internal prices. However, pig meat imports could surge in the latter part of the year, as domestic prices are seen rising from April. Despite rising prices, producers appear to have lowered replenishment of sow herds due to unfavorable market conditions also leading to higher import needs in the months ahead. These lower purchases by China could have a cascading effect on four of the top pig meat exporters, namely the European ...