Meat & Livestock News

2023 Global Pork Trade: A Comprehensive Overview

The international pork sector experienced significant shifts in 2023, as detailed in a recent analysis by Rabobank. Amidst a backdrop of challenges from previous years, the global pork trade landscape continues to adapt, offering a mix of challenges and growth prospects.

Key European players in the pork industry, Spain and France, have reported a 5% reduction in their production outputs this year. In contrast, Greece, Ireland, and Italy have shown positive trajectories, with 2%, 7%, and 5% growth rates respectively.

These countries have produced 175,000 Mt, representing a 1.3% decrease from the previous year’s figures.

Spain’s production data indicates a yield of 57,400 tonnes, marking a 5% decline from 2022’s numbers. Similarly, France has produced 40,600 tonnes. Despite a 6% reduction in its processing figures, Greece has managed a commendable output of 27,000 tonnes.

In terms of pricing, the EU has observed fluctuations. The standard pork rate has declined since April, stabilising at 615p/kg by September. This rate, interestingly, is marginally higher than the 2022 figures for the same period.

The price shift can be attributed to an influx of pork supplies from regions outside the EU, notably New Zealand and the UK, coupled with a tempered consumer demand. Spain’s pork prices have averaged 635p in early September, while France has reported a rate of 685p. Ireland’s market has remained consistent, with prices around 529p.

For the UK, these evolving dynamics in the European market present a potential opportunity to bolster its export prospects. As the UK positions itself as a key exporter, the significance of the EU market is anticipated to rise

 Data from the European Commission suggests that the current EU market prices may lead to an uptick in imports from the UK and New Zealand as we progress through 2023.

The UK’s pork prices have consistently outperformed the previous year, with the August rate being 569.5p/kg.