October 23, 2023

USDA report sees Latin America's pork production rise 3.6% in 2024

 

 

The United States Department of Agriculture (USDA) published its latest "Livestock and Poultry: World Markets and Trade" report on October 12, revealing projections for key variables in 2024 from estimates for the Latin American market.

 

Latin America is expected to see generalised growth in pork production next year. Brazilian exports are also projected to increase significantly.

 

As for imports, volumes are expected to be very similar to those reached in 2023, and therefore, the increase in apparent consumption will be largely due to a greater supply of local production and not due to imports, as has been the case in recent years.

 

The region's pork production is expected to reach 8.6 million tonnes, an increase of 3.6% compared to expected production in 2023 (8.3 million tonnes).

 

Exports are expected to grow by 4.7%, with Brazil, Mexico, Chile and Argentina accounting for over 2.1 million tonnes.

 

The region's imports are expected to increase by 0.9% and reach around two million tonnes.

 

Apparent consumption is forecast to grow by 2.7%, from 8.3 million tonnes to 8.5 million tonnes.

 

Brazil's pork production is expected to increase by 4.9% compared to 2023, from 4.6 million tonnes to 4.83 million tonnes. Export volume is projected to reach 1.53 million tonnes, which represents an increase of 5.5% compared to the previous year (1.45 million tonnes). Imports should amount to 2,000 tonnes and apparent consumption would grow by 4.6%, reaching 3.3 million tonnes.

 

Mexico's production is expected to reach 1.6 million tonnes, which would be 1.3% more than the 2023 total (1.58 million tonnes), thus maintaining the country's position in second place in Latin American production volume. On the other hand, imports are estimated to reach a volume similar to that of 2023 with 1.31 million tonnes, thus maintaining its position as the largest importer in the region and the third largest in the world. Exports are expected to grow by 1.9%, from 260,000 tonnes to 265,000 tonnes, while apparent consumption is expected to increase by 0.6% to a total of 2.65 million tonnes.

 

Argentina's pork production is expected to increase by 5.0% with respect to the previous year, from 762,000 tonnes to 800,000 tonnes. Exports are estimated at 8,000 tonnes, which would represent an increase of 60%, while imports would grow by 30.4%, consolidating 30,000 tonnes. Apparent consumption would increase by 5.4% and reach 822,000 tonnes.

 

Chile's production is expected to increase by 1.7% over 2023, from 585,000 tonnes to 595,000 tonnes. Concerning international trade, the USDA projected an increase of 1.9% for exports (265,000 tonnes) and 3.0% for imports (170,000 tonnes). Apparent consumption is expected to grow by 2.0% to 500,000 tonnes.

Colombia's pork production is expected to reach 530,000 tonnes, representing a decrease of 1.9% compared to the previous year (540,000 tonnes). Imports are expected to remain at a volume similar to that of 2023, at 140,000 tonnes. Apparent consumption is expected to decrease by 1.5%, reaching 670,000 tonnes.

- Pig333