July 12, 2016

 

Asia to dominate global pork output, consumption growths

 

 

Global pig meat production is projected to continue to grow over the coming decade, although at a slightly slower rate than over the last 10 years, AHDB Pork said, citing the newly-published OECD-FAO Agricultural Outlook.

 

Pig meat output is expected to rise by 12% by 2025, with most of the extra production coming from developing countries, mainly in Asia and particularly China, which is expected to return to growth next year.

 

Much of the consumption growth would also come from developing countries, where 15% more pork would be eaten, compared with just 4% in developed countries.

 

Although Africa and Latin America are projected to see even faster rises in consumption, the much larger scale of Asian markets means that they will still dominate, the pork division of the UK Agriculture & Horticulture Development Board said.

 

With demand rising even faster than production in developing countries, the amount of pork traded is projected to rise by 22% between 2015 and 2025. Asia will remain the key region for import growth, accounting for around 40% of the extra trade. However, Africa is projected to be the destination for 19% of the additional imports, doubling its share of the global total from 3% to 6%. North America, including Mexico, is also projected to see rising imports.

 

Global pork prices are forecast to rise slowly in the next few years before stabilising or even declining slightly later in the decade.

 

The FAO report, which also covers a range of other agricultural sectors, can be accessed by clicking here.
 
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