May 23, 2022

2.67% rise in Mexico's pork production at the end of Q1 2022

Mexico's pork production reached 414,220 tonnes at the end of the first quarter of 2022, up 2.67% from the same period in 2021 (403,430 tonnes).

Preliminary international trade figures indicated a 24.2% growth in the volume of imports for the period, increasing from 294,512 tonnes to 365,643 tonnes. However, exports stood at 59,312 tonnes, a reduction of 22.5% compared to the same period of 2021 when a volume of 76,524 tonnes was reached.

As for live hog prices, they exhibited a cyclical behavior during the quarter, showing a steady decline that continued from January until mid-March, when they began to recover and show an upward trend.

The average price for the period stood at MX$31.2/kg (US$1.57), representing an increase of 12.7%, compared to the same period of 2021 (MX$27.7/kg, or US$1.40).

According to the latest agri-food outlook report published by the Agricultural Market Advisory Group (GCMA), it is estimated that by Mexico's pork production this year will grow by 2.5% with respect to 2021, reaching 1.75 million tonnes.

On the other hand, according to the latest estimates report for livestock and poultry published by the United States Department of Agriculture's Foreign Agricultural Service on April 6, Mexican imports will grow by 3.9% with respect to 2021, reaching a record 1.2 million tonnes, while exports will grow by just 0.3%, reaching 320,000 tonnes.

- Economic Analysis Department of 333 Latin America