How has the pork market evolved in 2023?

Global pork production reached a total of 124.5 million tons in 2023, registering an increase of 1.4% compared to the previous year, according to FAO data. This growth was primarily driven by continued expansion in Asia, although it was partially offset by the decline in European production. The Americas and Oceania also saw increases in production, while Africa remained stable.

China led world production with 56.90 million tons, an increase of 4.5% compared to the previous year, recovering production levels prior to the ASF crisis. In this way, pork production in China in 2023 already represented 49.3% of global pork production.

Like the Asian giant, Vietnam, the United States and Brazil also saw increases in their production, driven by improvements in efficiency, investment in the industry and availability of inputs.

On the other hand, the European Union experienced a decrease of 6.6%, reaching 20.8 million tons, due to outbreaks of African swine fever that reduced foreign demand and profit margins, leading to a reduction in herd. regional swine. Although competitiveness challenges remain this year, European exporters are expected to benefit from market opportunities, especially in China.

Globally, pork trade declined for the third consecutive year, declining 7.9% to 9.8 million tonnes, and reflecting declines in imports in most regions. European Union exports declined, while countries such as the United States, Brazil and Russia reported increases in shipments, benefiting from trade deals and increased exportable supplies.

In 2024, global pork supply is projected to decline slightly by -0.9%, despite an increase in demand. The direction of the global market will depend largely on the main producers: China, the European Union (EU), the United States and Brazil.

Source: 333.