Overall, global pork imports and exports are predicted to decrease from 2021 levels, according to the latest outlook from Rabobank. China, Vietnam and the Philippines are expected to reduce pork imports as their pork production increases in 2022. However, traditional pork importing countries such as Japan and South Korea will likely increase pork imports.
The report’s authors predict input costs will continue to rise. Shipping rates, energy prices, feed grain prices and labor costs are challenging pork supply chains. As a result, they expect margins to be under pressure since producers and processors will find it difficult to pass on all additional costs to consumers.
