Asia-Pacific: Fresh Pork Carcase Market 2024

Fresh Pork Carcase Market Size in Asia-Pacific

The Asia-Pacific fresh pork carcase market declined slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption recorded a noticeable decrease. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Fresh Pork Carcase Production in Asia-Pacific

In value terms, fresh pork carcase production reduced modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 26% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

China (X tons) constituted the country with the largest volume of fresh pork carcase production, accounting for 45% of total volume. Moreover, fresh pork carcase production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. Pakistan (X tons) ranked third in terms of total production with a 7.9% share.

In China, fresh pork carcase production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+2.7% per year) and Pakistan (+1.5% per year).

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Fresh Pork Carcase Exports

Exports in Asia-Pacific

In 2022, overseas shipments of fresh or chilled carcases of pig meat decreased by -36.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 35% against the previous year. The volume of export peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, fresh pork carcase exports shrank dramatically to $X in 2022. Total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 49%. The level of export peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Australia represented the major exporter of fresh or chilled carcases of pig meat in Asia-Pacific, with the volume of exports reaching X tons, which was near 85% of total exports in 2022. It was distantly followed by Thailand (X tons), mixing up a 12% share of total exports. India (X tons) held a relatively small share of total exports.

Exports from Australia increased at an average annual rate of +2.3% from 2012 to 2022. At the same time, India (+121.2%) and Thailand (+56.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +121.2% from 2012-2022. Thailand (+12 p.p.) and India (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest fresh pork carcase supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was held by Thailand ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Australia stood at +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+58.6% per year) and India (+140.4% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, falling by -6.3% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 17%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+8.7%), while the other leaders experienced mixed trends in the export price figures.

Fresh Pork Carcase Imports

Imports in Asia-Pacific

In 2022, imports of fresh or chilled carcases of pig meat in Asia-Pacific contracted rapidly to X tons, reducing by -61% on the year before. Overall, imports showed a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 43% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, fresh pork carcase imports reduced markedly to $X in 2022. Over the period under review, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

Singapore dominates imports structure, finishing at X tons, which was near 81% of total imports in 2022. It was distantly followed by Bhutan (X tons), comprising a 4.9% share of total imports. The following importers - Hong Kong SAR (X tons), Lao People's Democratic Republic (X tons), Vietnam (X tons) and South Korea (X tons) - together made up 9.5% of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of fresh or chilled carcases of pig meat. At the same time, Lao People's Democratic Republic (+72.0%) and South Korea (+2.9%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +72.0% from 2012-2022. By contrast, Vietnam (-8.4%), Bhutan (-13.8%) and Hong Kong SAR (-25.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and Lao People's Democratic Republic increased by +46 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported fresh or chilled carcases of pig meat in Asia-Pacific, comprising 85% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 4.8% share of total imports. It was followed by Bhutan, with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-21.7% per year) and Bhutan (-11.6% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, approximately mirroring the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fresh pork carcase import price decreased by -13.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 56%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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