March 21, 2024

China's pig output to hit 695 million head this year

China is expected to produce 695 million head of pigs in 2024, according to the US Department  of Agriculture.

The country's live pig imports this year are forecast at 7,000 head; imports should still decline from 2023 as financial difficulties and low prices continue to weigh on producers. The main suppliers of live pigs to China are the United States, Denmark and France.

Live pig exports are expected to be 1.14 million head, with a marginal growth in exports to Hong Kong. Hong Kong and Macao will remain the top destinations for China's live pig exports.

Pork production is forecast to drop by 3% this year due to fewer slaughters as well as lower inventory and slaughter weight of fattened swine.

Pork consumption in 2024 is expected to reach 57.8 million metric tonnes, with a decline of 3% year-on-year, mainly due to sluggish economic activity. Although pork is a staple meat in China, demand for pork products has decreased as the economy continues facing challenges.

Pork imports are expected to grow marginally at 1.95 million metric tonnes as imports offset the decline in domestic pork production. High year-end inventories carried over into 2024 will suppress imports until traders diminish their supplies. China's major pork suppliers are Spain, Brazil, Denmark, the Netherlands, Canada and the US.

Pork exports are expected to see a marginal increase in 2024 at 100,000 metric tonnes. Hong Kong and Japan are the two major export destinations for pork products.

- USDA