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Pork trade will be hit again in 2022
After world trade in pork suffered a first drop in 2021 after the record year of 2020, volumes for the current year will again take a step back. At least that is the expectation of the United States Department of Agriculture (USDA).
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In particular, the recovering Chinese pig herd is leaving its mark on world trade. China imported 2020 million tons of pork in 5,28. In 2021, this volume has already fallen to 4,33 million tons, and will drop further to 2022 million tons in 3,50. As a result, the import volume of the Chinese is much smaller than the USDA previously expected. Until now, the ministry assumed a Chinese import volume of 4,20 million tons. The sharp increases in production at the large listed pig producers in the country will be one of the reasons for that.
World volume drops about 5%
In addition to the declining volume to China, the Philippines will also demand significantly less pork. The amount of pork demanded by the Philippines will fall from 458.000 tons in 2021 to 375.000 tons in 2022.
A number of other destinations will demand more pork. However, this does not outweigh the disappointing demand from China and the Philippines. Small pluses are expected to be recorded in imports from Mexico (+45.000 tons), Japan (+30.000 tons), the United Kingdom (+50.000 tons) and South Korea (+70.000 tons).
The total amount of pork demanded on the world market will fall on balance from 11,6 million tons in 2021 to just under 11 million tons this year. That means a volume decline of around 5%.
EU and US will be most affected
The shrinking world trade in pork will have the most impact on the largest pork exporters: the European Union and the United States. European Union countries will see exports fall by about 250.000 tons (-5%) and the United States by about 200.000 tons (-6%).