According to a recent USDA Foreign Agricultural Service (FAS) report, global pork production for 2023 is revised up 3% from the October forecast to 114.0 million tons on higher output in China. Pork demand is expected to strengthen in China due to recently lifted COVID-19 restrictions. Production forecasts remain largely unchanged for other countries.

Global pork exports for 2023 are forecast 2% higher from the October forecast to 10.7 million tons as EU, Brazil, and US exports are up on stronger than anticipated demand from key Asia markets. 

Upward revisions in China and Philippines imports will more than offset a decline in the United States. Philippines imports are forecast higher as reduced import tariffs for pork are extended through 2023. African swine fever continues to stifle Philippines production, boosting demand for imports.