The USDA has released its latest forecasts for global beef, pork and chicken production, with pork and chicken set to grow globally while beef will see a marginal decline.
According to the forecast, global pork production will grow by 1.0% in 2023, to a figure of 111.0 million tonnes, because of the 2.0% production increase in China. The US, Brazil and Mexico are also forecast to increase production by 0.7%, 1.6%, and 4.6% respectively.
However, due to rising feed and energy costs, environmental restrictions and weaker demand, EU and UK pork production is expected to decline.
Moreover, USDA has forecast that global pork exports will decline to 10.5 million tonnes (1.6%) in 2023, because of the lower import demand from China. Import demand in the Philippines is also expected to decline (-18.2%) as import favouring policies come to an end at the close of 2022. As such, EU exports are predicted to fall 3.6%.
The global production of chicken meat is forecast to increase by 1.8%, to 102.7 million tonnes, in 2023. While the global beef production is forecasted to marginally decline in 2023 by -0.2%, to 59.2 million tonnes.