EU pork exports forecast to grow during 2019 and 2020
Uncertainty surrounding Brexit continues to bring difficulty to outlooks, with the EU short-term outlook from the European Commission no different
A slower world economy is expected to continue through the summer and autumn. Trade frictions between the US and many of its main trading partners remain high and are weakening market confidence. Brexit uncertainty is also weighing on European economic growth.
Overall pork production is expected to be steady on the year, with exports recording significant growth (+12%) during 2019. The forecast export growth is driven by China but constricted by limited supply. Moving into 2020 production is forecast to rise slightly, encouraged by the rising prices. The EC is forecasting for export growth to continue during 2020, again driven by Chinese demand.
Per capita, EU consumption is expected to decline slightly this year, largely as higher pig prices turn consumers to other proteins, particularly poultry.