In 2023, China's demand for red meat will grow and that of chicken meat will fall according to the USDA

Despite the ongoing COVID-19 pandemic, China's beef and pork import forecasts for 2023 have been revised upwards, with pork imports projected to surpass pre-pandemic levels and beef imports expected to grow, albeit at a slower pace due to existing stockpiles. In contrast, chicken meat imports are predicted to decline to pre-pandemic levels due to lower consumer demand driven by falling pork prices. The economic recovery and the reactivation of the hotel, restaurant, and institutional sector in China are key factors underpinning the rise in red meat imports.

Global pork production is anticipated to reach 114 million tons in 2023, with China contributing significantly to this growth, as COVID-19 restrictions are relaxed. Meanwhile, global chicken meat production is expected to total around 102.9 million tons, with the UK, Thailand, and Mexico experiencing increases, which are expected to balance out the decline in Brazil. Finally, poultry meat trade is projected to amount to 14 million tons, although a decrease in demand from China, the EU, South Africa, and the UK is expected to impact Brazil, the world's leading exporter, the market is expected to recover through diversification and competitive pricing strategies.