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ABARE Outlook: Higher Pig Meat Imports, Exports

by 5m Editor
3 March 2011, at 9:42am

AUSTRALIA - According to the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), in it's Australian Commodities report for the first quarter of 2011, pig meat imports and exports are forecast to rise.

Feed prices are also forecast to go down due to adverse weather conditions during the winter grain harvest, which gave rise to an increase in feed grain supply. As a result, a reduction in cost of pig production is anticipated towards 2015-16.

Domestic pig meat production is forecast to go up in 2011-12. Relatively high beef and lamb prices are likely to offset consumer demand for pig meat.

Over the past two decades, a growth in pig meat imports from international suppliers has been observed. These foreign imports are to be used in the processed meat market. Imports are forecast to increase by 4 per cent in 2011-12, and to rise higher in 2015-16.

An increase in pig meat exports has also been forecast in 2011-12. As for 2015-16, exports are to still go up, but only very slightly and gradually. Singapore is Australia's largest foreign market, followed by New Zealand. The country has received very high unit returns from the Singaporean market.