World pork market for the 3rd week of May 2023

Published May 23, 2023

Tridge summary

A recent FAO report highlighted a slight increase in the world meat price index in April 2023, despite a decrease from the previous year. The rise in the pork price was primarily due to increased demand from Asian countries and reduced supply from major exporting countries due to higher production costs and disease outbreaks. The US has experienced a surge in pork exports, with significant growth in the Mexican market, contributing to promising prospects for US pork export growth in 2023. In contrast, the EU pork industry faces challenges, leading to a tight supply and higher pork prices. Brazil also reported a notable increase in pork exports in the first four months of 2023, mainly to China. Chile's pork exports and imports have seen significant growth in the first quarter of 2023, indicating a recovery in the market. Paraguay has also seen a substantial increase in pork exports in the same period, largely due to a more favorable market situation in 2023.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the FAO report, the average world meat price index in April 2023 reached 114.5 points, up 1.3% compared to March 2023, but down 6.1% compared to April 2022. The reason why the world pork price increased in April 2023 was mainly due to the increased import demand of Asian countries, while the supply decreased from some major exporting countries due to increased production costs and the outbreak of disease. animal. In the US market, according to USDA, US pork exports in March 2023 reached 260.2 thousand tons, up 17% compared to March 2022, this is the highest level since May 2021, value $724 million, up 18%. For the whole first quarter of 2023, exports increased 14% to 716.69 thousand tons, worth US$1.96 billion, up 15%. In March 2023, the US's pork exports to the Mexican market reached 95.03 thousand tons, up 15% over the same period, worth $ 195.7 million, up 31%. Other markets that also saw growth were South Korea, Japan, China/Hong Kong, Philippines, Austrlia and ...
Source: Vinanet

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