China: Pork Market 2023

Pork Market Size in China

The Chinese pork market reduced modestly to $X in 2022, which is down by -2.7% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Pork consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Pork Production in China

In value terms, pork production expanded notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.7% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 121%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

The average yield of pork in China totaled X kg per head in 2022, approximately mirroring 2021. The yield figure increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the yield increased by 14%. As a result, the yield reached the peak level of X kg per head. From 2021 to 2022, the growth of the average pork yield remained at a lower figure.

In 2022, number of animals slaughtered for pork production in China shrank to X heads, falling by -11.7% compared with 2021. Overall, the number of producing animals saw a pronounced setback. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. The number of animals slaughtered for pork production peaked at X heads in 2014; however, from 2015 to 2022, producing animals remained at a lower figure.

Pork Exports

Exports from China

In 2022, shipments abroad of pork increased by 52% to X tons, rising for the second year in a row after six years of decline. Over the period under review, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2021 when exports increased by 67%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, pork exports surged to $X in 2022. In general, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Mongolia (X tons) was the main destination for pork exports from China, accounting for a 0.2% share of total exports. Moreover, pork exports to Mongolia exceeded the volume sent to the second major destination, Thailand (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Mongolia amounted to -21.9%.

From 2012 to 2022, the average annual growth rate of value to Mongolia stood at -26.6%.

Export Prices by Country

The average pork export price stood at $X per ton in 2022, declining by -18% against the previous year. In general, export price indicated perceptible growth 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, pork export price decreased by -34.0% against 2020 indices. The growth pace was the most rapid in 2020 when the average export price increased by 58% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Mongolia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Pork Imports

Imports into China

In 2022, purchases abroad of pork decreased by -51.1% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 113%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, pork imports shrank rapidly to $X in 2022. In general, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 161%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Spain (X tons), Brazil (X tons) and Denmark (X tons) were the main suppliers of pork imports to China, together comprising 62% of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +63.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Brazil ($X) and Denmark ($X) appeared to be the largest pork suppliers to China, with a combined 65% share of total imports.

Brazil, with a CAGR of +62.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pork import price stood at $X per ton in 2022, reducing by -20.3% against the previous year. Overall, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 an increase of 29%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced rapidly in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from France ($X per ton) and Brazil ($X per ton), while the price for the United States ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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