Asia and China to drive future pigmeat output growth
Analyzing the latest agricultural outlook report from OECD-FAO, key production growth areas will be focused mainly in Asia and particularly China, which is expected to return to growth in 2017.
“Consumption growth is also expected to be even more dominated by developing countries, where 15% more pork will be eaten, compared with just a 4% increase in developed countries,” said AHDB Pork.
“Africa and Latin America are projected to see even faster rises in consumption but the much larger scale of Asian markets means that they will still dominate.”
The report, which covers 2016-2025, forecasts that the amount of pork traded will rise by 22% during this time.
“Asia will remain the key region for import growth, accounting for around 40% of the extra trade,” observes AHDB Pork. “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, meanwhile, are forecast to rise slowly in the next few years before stabilizing or even declining slightly later in the decade. ■