World Markets and Pork Trade – Forecast for 2021

The Foreign Agricultural Service of the US Department of Agriculture published a forecast for the development of the situation in the global pork market until the end of 2021. Pork output and imports are expected to increase significantly.

The forecast for global pork production for 2021 is raised by almost 4 percent from April to 105.1 million tons, mainly due to an increase in production in CHINA, which rose by 8 percent to 43.8 million tons. Since the start of 2021, pig slaughter in China has been intense and carcass weights higher, a trend that should continue through the end of the year. A decline in pork production during a period of weak seasonal demand led to a rapid drop in prices, prompting livestock farmers to liquidate the animals as Chinese producers sought to protect profits. Producer margins are still expected to slow China's pork production growth later in the year.

The forecast for global pork exports for 2021 is increased by 2 percent to 11.8 million tons, as all major exporters are expected to increase external supplies. China's imports continue to support world trade and will increase by 3 percent to 5.0 million tons. Meanwhile, the forecast for pork imports to the Philippines is raised by 21 percent to 425,000 tons due to lower import tariffs and ongoing supply shortages caused by ASF. Mexico's import forecast is up nearly 3 percent to 985,000 tons due to high domestic prices, a stronger peso and rising exports.

And this fact will be taken into account when preparing the monthly analytical report Meatinfo.ru