The report “Global Pork Quarterly Q1 2023”, by Rabobank, places special emphasis on the drop in supply in the first quarter of 2023 and a drop in consumption. Rising inflation and high accumulated stocks in 2022 will put pressure on import needs.
According to the financier, in Europe, production will be under pressure in all species, due to disease risks, changes driven by the market and regulations, and reduced exports. He points out that consumption is expected to remain stable, with poultry benefiting, while pork and beef will suffer a slight decline.
Rabobank expects pork trade to increase modestly in the first quarter of 2023, mainly due to last year’s low base. However, it may be difficult to sustain this growth throughout the year, given low production in the main exporting regions, mainly the EU and the US.