USDA Forecasts Growth in Latin America’s Pork Production for 2024

In 2024, Latin America is poised for a substantial increase in pork production, as indicated by the USDA’s Livestock and Poultry report. Brazil, in particular, is expected to drive significant export growth, contributing to the region’s overall positive outlook. Import volumes are anticipated to align with those of 2023, leading to a boost in apparent consumption primarily fueled by increased local production.

Projections indicate that the region will produce approximately 9.5 million tons of pork, reflecting a 3.6% increase from the projected 2023 production of 9.2 million tons.

Export expectations show a growth trajectory of 4.7%, with Brazil, Mexico, Chile, and Argentina collectively contributing over 2.3 million tons.

Imports across the region are expected to rise by 0.9%, reaching an estimated 2 million tons.

Apparent consumption is forecasted to grow by 2.7%, reaching 9.5 million tons.

In Brazil, pork production is set to increase by 4.9%, reaching 4.83 million tons, with exports predicted to reach 1.68 million tons (a 5.5% increase). Imports are estimated at 2,000 tons, and apparent consumption is expected to grow by 4.6%, reaching 3.63 million tons.

Mexico’s production is projected to reach 1.6 million tons, representing a 1.3% increase from 2023, while imports will remain steady at 1.31 million tons. Exports are expected to rise by 1.9%, reaching 265,000 tons, and apparent consumption should increase by 0.6% to a total of 2.75 million tons.

Argentina’s pork production is set to grow by 5.0%, from 762,000 tons to 800,000 tons. Exports are estimated at 8,000 tons (a 60% increase), with imports projected to grow by 30.4% (reaching 30,000 tons). Apparent consumption is forecasted to increase by 5.4%, reaching 822,000 tons.

Colombia’s pork production is expected to reach 530,000 tons, representing a 1.9% decrease from the previous year. Imports are expected to remain at a volume similar to that of 2023, at 140,000 tons. Apparent consumption is projected to decrease by 1.5%, reaching 670,000 tons.