Asia: Fresh Pork Carcase Market 2024

Fresh Pork Carcase Market Size in Asia

The Asian fresh pork carcase market shrank to $X in 2022, stabilizing at the previous year. Overall, consumption saw a perceptible descent. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Fresh Pork Carcase Production in Asia

In value terms, fresh pork carcase production declined slightly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 25%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

The country with the largest volume of fresh pork carcase production was China (X tons), comprising approx. 41% of total volume. Moreover, fresh pork carcase production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was held by Pakistan (X tons), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: India (+2.7% per year) and Pakistan (+1.5% per year).

Fresh Pork Carcase Exports

Exports in Asia

Fresh pork carcase exports surged to X tons in 2022, jumping by 26% against 2021. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 84%. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, fresh pork carcase exports soared to $X in 2022. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 99%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Cyprus was the largest exporter of fresh or chilled carcases of pig meat in Asia, with the volume of exports resulting at X tons, which was near 58% of total exports in 2022. Thailand (X tons) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by Oman (5.2%). India (X tons), Kazakhstan (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Exports from Cyprus increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, India (+121.2%), Oman (+60.2%) and Thailand (+56.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +121.2% from 2012-2022. By contrast, Kazakhstan (-6.2%) and Malaysia (-17.2%) illustrated a downward trend over the same period. Thailand (+26 p.p.), Cyprus (+9.2 p.p.), Oman (+5.2 p.p.) and India (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan and Malaysia saw its share reduced by -4.9% and -18.7% from 2012 to 2022, respectively.

In value terms, Cyprus ($X), Thailand ($X) and Oman ($X) were the countries with the highest levels of exports in 2022, together comprising 89% of total exports. India, Malaysia and Kazakhstan lagged somewhat behind, together comprising a further 8.4%.

In terms of the main exporting countries, India, with a CAGR of +140.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 23%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Cyprus ($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 more modest paces of growth.

Fresh Pork Carcase Imports

Imports in Asia

In 2022, approx. X tons of fresh or chilled carcases of pig meat were imported in Asia; reducing by -40.9% compared with 2021 figures. Over the period under review, imports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2021 when imports increased by 49%. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, fresh pork carcase imports shrank rapidly to $X in 2022. Overall, imports saw a pronounced contraction. The pace of growth was the most pronounced in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

Singapore (X tons) and Kazakhstan (X tons) dominates imports structure, together achieving 79% of total imports. It was distantly followed by Cyprus (X tons), committing a 5% share of total imports. Bhutan (X tons), Kyrgyzstan (X tons), Hong Kong SAR (X tons) and Kuwait (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +599.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported fresh or chilled carcases of pig meat in Asia, comprising 59% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 22% share of total imports. It was followed by Cyprus, with a 3.5% share.

In Singapore, fresh pork carcase imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+41.8% per year) and Cyprus (+3.6% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, reducing by -11.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 49% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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