Rabobank: global pork trade shifts as tariffs and disease bite

Pork trade flows are being reshaped by tariffs and disease outbreaks, says Rabobank in its Global Pork Quarterly over 2025’s second quarter. While Brazil and the EU benefit from shifting demand, production challenges and consumer uncertainty cast a shadow over global market growth. The imposition of US tariffs on pork exports to China has significantly reduced competitiveness, especially for offal, where the US accounted for 27% of Chinese imports in 2024. While some of these tariffs are temporarily paused, Chinese importers are turning to Brazil, Chile and the EU. In response, US pork exporters are shifting volumes to other, often lower-value, markets. China remains the world’s largest pork importer, although imports account for less than 5% of total supply. The resulting trade rerouting is offering growth potential for Latin America and Europe, but leaves US exporters facing falling values and uncertain margins. Despite global economic uncertainty and falling pork consumption ...