The EU Commission has recently published the summer edition of its short-term outlook for agricultural markets. The Commission believes that EU pork production will show slight growth in 2020 of 0.5%. This increase in production is expected to be supported by strong prices that encourage the expansion and return of domestic demand, particularly within the food service sector.
Furthermore, the prospects for strong export demand, predominantly to China, remains a key driver of the European market. EU pork exports are expected to continue to show strong growth this year, underpinned by strong demand from China.
United States, to the Chinese market
EU pork exports have already benefited from this strong Chinese demand, registering an increase of 150% in the first four months of the year. However, compared to the end of last year, China has also increased supplies from the US, Brazil and Canada, increasing its market share to the detriment of the EU. Looking ahead, this will be a key observation point, particularly as the United States moves to capture more of the Chinese market.
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