The global pork trade is likely to recover in 2015, after declining for two consecutive years, according to BPEX.
Based on the latest forecasts from the United States Department of Agriculture (USDA), the global market is “suggested” to be heading towards a 4% increase in pigmeat shipments next year from the main export sources, with China, Mexico and several other Asian markets, driving the upturn in demand.
The USDA figures, in fact, show China’s pork purchases in 2015 increasing by 23% to around 1 million tonnes.
“This could provide opportunities for UK exporters,” said BPEX, “given that they currently supply around 5% of Chinese pork imports.”
Overall, US and EU exporters are both expected to benefit from the forecast increases with US exports potentially rising by 3% and the EU by 2%.
The impact of PEDv around the world is a continuing factor, particularly in Mexico where it’s estimated that final throughputs in 2014 are “likely to decline by 11%”.
“With such damage to the Mexican pig industry, coupled with a 2% increase in consumption, imports into Mexico are likely to rise by 3% in 2015, following a similar rise this year,” said BPEX.
“Asian markets are also attracting increased volumes of pork. Along with China, imports are set to increase in South Korea, Hong Kong and the Philippines, among others.”
