Global pig meat production to decrease slightly in 2024

Global pig meat production is forecast to reach 124 million tonnes in 2024, a slight decrease from the previous year. The contraction in production in China, coupled with marginal declines in Thailand and Canada, is expected to offset growth in other key producing regions, including the United States, the Russian Federation, Vietnam, the European Union, and Brazil. In China, pig meat output is projected to decline due to government policies aimed at reducing the breeding sow population from 41 to 39 million heads. This policy follows a period of oversupply, which caused a sharp decline in domestic prices. Although profit margins for producers have improved, the government's intervention seeks to stabilize the market by better aligning supply with demand. Similarly, Thailand is expected to see a reduction in pig meat output as part of efforts to address oversupply and low prices. In Canada, output is forecast to contract due to lower slaughter capacity, particularly in Eastern ...