November 23, 2024 | 03:22 GMT +7
Hotline: 0913.378.918
November 23, 2024 | 03:22 GMT +7
Hotline: 0913.378.918
Pig production globally is struggling due to high feed prices. Photo: TL.
In the latest pork market outlook report, Rabobank forecasted global pork trade to shrink in 2022, while consumer demand is mixed in some regions.
Rabobank predicts that pig farmers will still face difficulties in 2022 as feed, energy, transportation, disease and labor costs will continue to rise.
Growth in pork production as well as global pork trade is also expected to slow due to higher feed prices.
Facing the situation, pig farmers will focus on quality, limit the increase in pig herds and are expected to decrease in regions such as the UK, Germany and Southeast Asian countries.
Also according to Rabobank, the demand for pork consumption is recorded to be mixed in some areas.
In the United States and South Korea, pork consumption is forecast to increase sharply as pandemic restrictions have been lifted. While consumption in China, Japan and Mexico decreased as these countries are still implementing strict measures against the Covid-19 pandemic with weaker economic growth.
Global pork exports in the first 6 months of 2022 are likely to continue to decline as importing countries remain cautious due to the weakening global economy and rising pork prices.
Translated by Hoang Duy
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