Eastern Asia: Fresh Pork Carcase Market 2024

Fresh Pork Carcase Market Size in Eastern Asia

The East Asian fresh pork carcase market fell modestly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption recorded a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Fresh Pork Carcase Production in Eastern Asia

In value terms, fresh pork carcase production shrank to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 19%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

The country with the largest volume of fresh pork carcase production was China (X tons), accounting for 84% of total volume. Moreover, fresh pork carcase production in China exceeded the figures recorded by the second-largest producer, South Korea (X tons), more than tenfold. Japan (X tons) ranked third in terms of total production with a 5.2% share.

In China, fresh pork carcase production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+2.1% per year) and Japan (-11.8% per year).

Fresh Pork Carcase Exports

Exports in Eastern Asia

In 2022, overseas shipments of fresh or chilled carcases of pig meat decreased by -1.7% to X tons, falling for the fifth year in a row after six years of growth. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 71%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, fresh pork carcase exports contracted to $X in 2022. Over the period under review, exports saw a sharp downturn. The pace of growth was the most pronounced in 2016 with an increase of 60%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Taiwan (Chinese) (X tons), together resulting at 100% of total export.

Taiwan (Chinese) was also the fastest-growing in terms of the fresh or chilled carcases of pig meat exports, with a CAGR of +36.2% from 2012 to 2022. Taiwan (Chinese) (+99 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X) also remains the largest fresh pork carcase supplier in Eastern Asia.

In Taiwan (Chinese), fresh pork carcase exports increased at an average annual rate of +20.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2018 when the export price increased by 120% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Taiwan (Chinese).

From 2012 to 2022, the rate of growth in terms of prices for Taiwan (Chinese) amounted to -11.5% per year.

Fresh Pork Carcase Imports

Imports in Eastern Asia

In 2022, the amount of fresh or chilled carcases of pig meat imported in Eastern Asia contracted dramatically to X tons, dropping by -93% on 2021. In general, imports continue to indicate a sharp descent. The growth pace was the most rapid in 2021 when imports increased by 63% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, fresh pork carcase imports dropped notably to $X in 2022. Overall, imports faced a deep reduction. The most prominent rate of growth was recorded in 2019 when imports increased by 98%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Hong Kong SAR was the largest importer of fresh or chilled carcases of pig meat in Eastern Asia, with the volume of imports amounting to X tons, which was approx. 49% of total imports in 2022. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Macao SAR (X tons), together making up a 51% share of total imports.

Imports into Hong Kong SAR decreased at an average annual rate of -25.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+66.8%) and South Korea (+2.9%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +66.8% from 2012-2022. By contrast, Macao SAR (-10.3%) illustrated a downward trend over the same period. South Korea (+22 p.p.), Taiwan (Chinese) (+19 p.p.) and Macao SAR (+7.3 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -9.4% from 2012 to 2022, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported fresh or chilled carcases of pig meat in Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports. It was followed by Macao SAR, with a 12% share.

In Hong Kong SAR, fresh pork carcase imports declined by an average annual rate of -21.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+9.5% per year) and Macao SAR (-4.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 22% against the previous year. Over the period under review, the import price posted strong growth. The growth pace was the most rapid in 2020 when the import price increased by 103%. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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