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According to the latest figures on the Mexican swine industry published by the Mexican Ministry of Agriculture and Rural Development, pork production in Mexico increased by 2.1%, from 1,652,362 tons (t) to 1,686,798 t in 2021.
Pork imports reached a record level of 1.383 million tons, 26.4% higher than in 2020 (1.094 million tons), with the main supplier being the United States. Mexico surpassed China for the first time in becoming the United States' leading buyer of pork. Mexico's exports decreased by 5.8% compared to 2020, from 276 thousand tons to 260 thousand tons.
The increase in production and imports is reflected in the increase in per capita consumption, which is estimated at 19.4 kg/inhabitant for 2021, representing a growth of 2.3% compared to 2020 (19 kg/inhabitant).
As for hog prices, we found that these increased throughout 2021, reaching levels well above those recorded in the last four years. In fact, the reference price for Sonora, reported by SNIIM, consolidated an annual average of $32.23 MXN/kg, thus increasing 30% compared to the 2020 average ($24.79 MXN/kg).
Considering the above, we can conclude that the Mexican swine industry had favorable performance in 2021, with the strength of demand and domestic consumption standing out, which was able to absorb both the increase in domestic production, as well as the record level of imports, a situation that also boosted prices.
Economic Analysis Department of 333 Latin America with data from the Secretariat of Agriculture and Rural Development of Mexico | Mexico. https:// gob.mx/siap
National Market Information and Integration System (SNIIM) |
http://www.economia-sniim.gob.mx/nuevo
