The USDA Foreign Agricultural Service (FAS) forecasts pork production to increase 7% in 2023 and 5% in 2024, according to a recent US Department of Agriculture (USDA) Global Agricultural Information Network (GAIN) report. 

Pork consumption will increase as a result of increased availability. FAS forecasts exports to increase 8% in 2023 and 7% in 2024.

The USDA post in Brazil forecasts pork production to increase 7% in 2023 and 5% in 2024. The forecast considers high external demand, new market accessed throughout the year, improved economic conditions locally, record corn and soybean crops leading to improved availability and a reduction in feed prices, and increased swine production.

Post forecast pork consumption in Brazil will increase 6% in 2023 to 3.22 MMT CWE and 4% in 2024 to 3.35 MMT CWE, due to improved availability of pork domestically and cheaper prices to the consumers.

Exports are expected to increase 8% in 2023 and 7% in 2024. Post`s forecasts for improved exports are based on increased pork availability, high external demand, potential purchases from new markets, and increased exports to existing consumers.

Exports are forecast to represent 31% of total production. Post forecasts pork imports at 2 MMT CWE for 2023 and 2024, stable from 2022 numbers.