Latin American swine industry to grow 3.6% in 2024 according to USDA

In general terms, the region as a whole is expected to see generalized growth in pork production in 2024. Brazilian exports are also projected to increase significantly. As for imports, volumes are expected to be very similar to those reached in 2023, and therefore the increase in apparent consumption will be largely due to a greater supply of local production and not due to imports, as has been the case in recent years.

Regional consolidation

• Pork production is expected to reach 8.6 million tons (Mt), an increase of 3.6% compared to expected production in 2023 (8.3 Mt).

• Exports are expected to grow by 4.7%, with Brazil, Mexico, Chile, and Argentina accounting for over 2.1 Mt.

• The region's imports are expected to increase by 0.9% and reach around 2 Mt.

• Apparent consumption is forecast to grow by 2.7%, from 8.3 Mt to 8.5 Mt.

Below is a breakdown of the projections for the leading countries in the region:

Brazil

• Pork production is expected to increase by 4.9% compared to 2023, from 4.6 Mt to 4.83 Mt. Export volume is projected to reach 1.53 Mt, which represents an increase of 5.5% compared to the previous year (1.45 Mt). Imports should amount to 2000 tons (t) and apparent consumption would grow by 4.6%, reaching 3.3 Mt.

Mexico

• Production is expected to reach 1.6 Mt, which would be 1.3% more than the 2023 total (1.58 Mt), thus maintaining the country's position in second place in Latin American production volume. On the other hand, imports are estimated to reach a volume similar to that of 2023 with 1.31 Mt, thus maintaining its position as the largest importer in the region and the third largest in the world. Exports are expected to grow by 1.9%, from 260,000 to 265,000 t, while apparent consumption is expected to increase by 0.6% to a total of 2.65 Mt.

Argentina

• Pork production is expected to increase by 5.0% with respect to the previous year, from 762,000 to 800,000 tons. Exports are estimated at 8,000 t, which would represent an increase of 60%, while imports would grow by 30.4%, consolidating 30,000 t. Apparent consumption would increase by 5.4% and reach 822,000 t.

Chile

• Chilean production is expected to increase by 1.7% over 2023, from 585,000 to 595,000 tons. Regarding international trade, the entity projects an increase of 1.9% for exports (265,000 t) and 3.0% for imports (170,000 t). Apparent consumption is expected to grow by 2.0% to 500,000 t.

Colombia

• Pork production is expected to reach 530,000 tons, representing a decrease of 1.9% compared to the previous year (540,000 tons). On the other hand, imports are expected to remain at a volume similar to that of 2023, at 140,000 t. Apparent consumption is expected to decrease by 1.5%, reaching 670,000 t.