USDA: Global pork exports down 10 % in 2022
The US Department of Agriculture (USDA) recently issued an up-to-date assessment of the development of the meat markets this year. According to this, US analysts are forecasting global pork production for 2022 totaling 110.7 million tons. This leaves the expected global pork production volume roughly the same as the USDA's April estimate, although corrections have been made for some countries. On the one hand, Chinese pork production is up, on the other hand, the European Union (EU) and Brazil are recording production declines.
Compared to the April forecast, the USDA has raised estimated pork production in China by almost 2% to 51.8 million tons. However, production is still expected to remain below the level before the outbreak of African swine fever (ASF). The US analysts revised their forecast for the EU downwards by around 2.4% to 22.6 million tons. Brazil's pork production was also adjusted downwards by around 1.6% to 4.3 million tons. The reason given is the limited export options.
The forecast for global pork exports in 2022 was revised significantly downwards by the USDA by almost 10% to 10.6 million tons compared to April. Decisive for this development is the declining demand from China. In April, the US analysts had still expected around 39% more deliveries, while they have now lowered their forecast from 3.5 million tons to 2.15 million tons. Hong Kong's pork imports were also revised down, minus 21% to 275,000t. Although rising demand for pork is expected from other countries such as South Korea, Mexico, Japan and the Philippines, these will not be able to compensate for the massive decline in China.
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