In 2022, Japan's pig slaughter totaled 1,293,280 MT, CWE, down just under 2% from 2021. Rising production costs prompted swine farmers to finish fattening early to lower feeding costs, bringing the average carcass weight down just under 2% to 78.3 kg. In 2023, production is forecast to increase 0.5% to 1,300,000 MT, CWE.
Pork consumption is expected to continue to grow in 2023 on a year-on-year basis as consumers favor the cheaper meat over beef.
Demand for frozen pork, which is mainly destined for food processing companies, will provide steady sales of processed pork products in 2023, but high beginning stocks mean 2023 imports will dip.
Japan’s 2022 pork imports totaled 1,523,167 MT, CWE jumping 7% from 2021. Frozen import growth was led by Spanish pork which was trading at competitive prices. The bump in imports has built 2022 ending stocks 22% higher than in 2021. This surplus inventory will draw down slowly, so 2023 ending stock estimates are raised. Chilled pork imports were steady in 2022 as Japanese importers service recovering tourism and other demand drivers, a trend that is likely to continue in 2023.
PigUA.info by materials pig333.com