Prospects for the development of pig production in Brazil in 2024

Domestic consumption

Domestic demand for pork in Brazil has remained stable in recent years and is expected to continue this trend in 2024 . Cepea (Centre for the Study of Agricultural Outlook) forecasts that pork consumption will increase by 2.8% in 2024 compared to the previous year. This growth is due to several factors, including population growth, rising incomes and the promotion of healthy eating.

Exports

Brazil is one of the world's leading pork exporters and exports are expected to continue to grow in 2024. Brazil exported 1.1 million tons of pork between January and November 2023, nearly reaching 2021's record level of 1.12 million tons. The agreement between ABPA (Brazilian Animal Protein Association) and ApexBrasil (Brazilian Trade and Investment Promotion Agency), extended until 2025, aims to promote MEAT exports, including pork.

Although pork exports to CHINA fell 11% between January and November 2022 compared to the same period in 2021, shipments to the country are likely to remain stable in 2024. This is due to the growing number of African swine fever ( ASF ) cases in Europe, which could lead to increased demand for Brazilian pork from China .

Production

Brazil's pork production in 2024 is expected to increase 3.3% year-on-year to 59.1 million animals. This growth is necessary to meet both domestic and international demand for natural and processed pork products.

Lower production costs

In 2024, the Brazilian pork sector may experience lower production costs. This is due to the expected decline in feed prices, as well as the possibility of increasing corn and soybean production in the country. Reducing production costs will improve the profitability of pig-breeding enterprises and increase pork production.

Overall, the outlook for the Brazilian pig industry in 2024 is favorable. Domestic consumption is expected to increase, exports will increase and production costs will decrease. These factors will contribute to the further development of the industry and strengthen Brazil's position in the global pork market.