The global pork market is influenced by various factors

The global pork market is being impacted by a variety of factors, and the USDA has once again released its forecast for the industry. They forecast a slight decline in global pork production, while foreign trade is expected to increase compared to last year.

According to the latest forecast, pork production this year will be lower by 0.6 percent compared to last year, reaching a volume of 115.6 million tons. The decline was largely driven by lower production in China, the largest pork-producing country. According to American experts, pork production in China will decrease by 3.4 percent to 56.0 million tons. This is due to the consolidation of the Chinese pig industry due to low pork prices.

However, the slight decline in production in China is not expected to be offset by growth in other countries such as the European Union, Brazil , Russia and the United States. Although these countries are expected to increase pork production, the expected growth will not fully offset the decline in China.

In terms of pork consumption, the USDA forecasts a 0.8 percent decline in global consumption to 114.5 million tons. Once again China plays an important role as consumption is expected to decline by 3.4 percent. However, a slight increase in pork consumption is projected in the European Union, USA and Brazil.

As for foreign trade in pork, IT has increased slightly. An increase in the volume of foreign pork trade was noticed after the start of the current year. This may be due to various factors, such as changes in the demand for pork in different countries or changes in trade policies. However, details about the reasons for this increase were not provided in this forecast.

Thus, the global pork market continues to change under the influence of various factors. The decline in production in China is having a significant impact on the global market, but other countries are expected to offset the decline to some extent. It is important to note that forecasts are always based on current data and may change in the future depending on developments in the pork market.