USDA predicts growth in global pork production in 2023
According to estimates released by the United States Department of Agriculture (USDA) in the Livestock and Poultry: World Markets and Trade report, global pork production is projected to increase and exports to decline, both of which will be influenced by China.
Global exports are forecast to fall 2 percent to 10.5 million tons in 2023 as China imports weaken for a second consecutive year. Despite persistent issues with ASF, Philippines pork imports are also forecast to decline due to the end of policies favoring imports in 2022; the temporary increase in pork quota volumes ended in May 2022 and reduced tariffs were extended through the end of 2022. UK pork imports rise as pre-pandemic consumption trends are expected to return, shifting purchases from retail to food service, shifting demand for domestically produced pork to imported pork.
U.S. production and exports
U.S. production and exports: U.S. production is forecast 1 percent higher in 2023 to 12.4 million tons on gradually increasing pig crops and heavier weights. However, U.S. exports are forecast lower in 2023 on easing demand by key importers such as Mexico and China.