Australian pork production to increase in 2024

The rise in pork production is forecast to result in a slight increase in exports but lower than usual imports.

In 2024, Australian pork production is forecast to increase by 2% to reach 480,000 MT (CWE) after strong growth in 2023 which has been spurred on by the rapid rise in beef and lamb prices in Australia in recent years. The rise in pork production is forecast to result in a small increase in exports and lower than usual imports.

Australia’s pork imports are expected to remain steady at 210,000 MT (CWE) in 2024. The cost of pork imports from the United States has reverted back to being lower than from the European Union during 2023, which is expected to continue into 2024. With this, imports from the United States are expected to return to accounting for over half of total imports.

Figure 1. Australia's major pork import sources – January to June 2019 to 2023.

Australia exports less than 10% of the pork that it produces. Exports in 2024 are forecast to increase to 45,000 MT (CWE) from an estimated 40,000 MT (CWE) in 2023.

Pork consumption in Australia is forecast to increase slightly in 2024 to 645,000 MT (CWE) from an estimated 640,000 MT (CWE) in 2023.

September 11, 2023/ USDA/ United States.
https://apps.fas.usda.gov

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