Read this article in: Economy

Argentina: Pork production bolstered by increased domestic consumption in 2024

Despite the economic situation in 2024 and the increase in imports, domestic pork production achieved significant growth, which could be explained, in part, by the strength of domestic consumption, as well as by the gradual recovery of exports. These results reflect the resilience of the pork sector, marking a very positive year-end and promising expectations for the future.

Results and balance of the fundamental variables of the Argentine swine industry in 2024. Prepared by 333 Latin America with data from the Secretariat of Agriculture, Livestock, and Fisheries of Argentina.

In 2024, pig slaughter totaled 8,302,903 head, an increase of 2.7% compared to 2023. Buenos Aires led with 50.3% of the annual slaughter, totaling 4,178,443 head. Santa Fe and Córdoba contributed significantly with 17.7% and 16.5%, respectively.

December was a particularly positive month, with a rebound in the slaughter of 757,238 head, the highest figure since July (794,595 head). This was 9.4% more than in December of the previous year and 13.8% more than in November.

In the last five years, hog slaughter has grown by 19%, from 7 million head in 2020 to more than 8.3 million head in 2024, an additional 1.3 million head. A significant achievement for the industry.

Pork production in 2024 reached 785,047 tons (t), an increase of 3.0% compared to 2023. This growth reflects a significant advance in the Argentine pork industry, despite last year's circumstances.

In December, 68,024 t were produced, 8.9% more than in the same month of the previous year and 10.7% above the November total (61,462 t).

Average carcass weights in December were 90 kg, similar to the same month of the previous year and 2 kg less than in November.

The average carcass weight in 2024 was 95 kg, 1 kg more than the 2023 average, indicating a positive trend in this key indicator.

In 2024, pork exports increased significantly by 30.2% compared to 2023, going from 11,154 to 14,526 tons (t). This growth was also reflected in export value, which reached USD 14.9 million, an increase of 45.8% in the period analyzed. However, in December 1,012 t were exported, a decrease of 8.2% compared to the same month of 2023, and an increase of 6.0% compared to November.

Imports of pork products in 2024 totaled 22,674 t, valued at USD 69.5 million, representing an increase of 38.1% in volume compared to 2023. In December, imports reached 5,498 t, reflecting an impressive increase of 1,004.4% over the same month of the previous year and 44.7% more than in November.

The significant increase in swine imports in December resulted in a trade balance deficit for the pork sector of USD 15.3 million. Throughout the year, the accumulated deficit reached USD 54.6 million, 23.4% higher than in 2023 (USD 44.2 million).

Apparent consumption reached 805,685 t in 2024, representing an increase of 3.7% over 2023 (777,154 t), while per capita consumption was estimated at 18.67 kg/inhabitant as of December.

January 29, 2024/ 333 Latin America with information from the Secretariat of Agriculture, Livestock, and Fisheries - Ministry of Economy/ Argentina.
https://www.magyp.gob.ar