Rising prices for pork can lead to industry recovery in many countries, including Australia, according to local experts.
Australia’s pork production is expected to reach 400,000 tonnes in 2020, almost matching the level of last year (398,000 tonnes). The combination of low pork prices and high feed prices last year led to a reduction in livestock and a concomitant decline in pork production.
However, although feed prices remain high, there is a significant increase in pig and pork prices. For example, prices for mercury increased from $ 2.50 per kilogram a year ago to $ 4. This has led to a return on profits for many farmers, and as a result, entrepreneurs have begun to increase their livestock.
Analysts predict Australian pork imports will drop to 240,000 tonnes. In 2019, it reached a record level – 269 thousand tons. The main reason for this decline is that importers have accumulated a large number of stocks. The local pork market in the country is provided by local producers as biosecurity regulations impede the import of fresh and chilled meat.
Pork exports in 2020 are expected to be stable at 35,000 tonnes.