Although primarily domestic focussed, the industry also achieved increased exports in 2023-24, with the value of this trade up by 50% from the prior year. Domestic pork production remains dependent upon the price of key inputs, such as feed costs, and pork prices including import prices.
livestock
Pork
- GVP $ 234 million est. Up 4% year-on-year.
- Pork prices up for the year by 6%.
- Value of pork exports $30 million in 2023-24, 50% higher year-on-year.
The value of pork production in 2023-24 was supported by a 6% increase in the average price received by producers. At the same time there has been some easing of production costs in particular for feed grains.
Production
Pig meat production totalled 63.7 thousand tonnes for 2023-24 down 2% year-on-year. Slaughter numbers were lower with 855 thousand pigs processed. At the same time the average carcase weight was relatively unchanged in 2023-24 from the year prior at 74.5 kg cw.
c
18
Feed production costs, a major driver of production planning, have tended to ease over the last 12 months after recent highs experienced in 2022-23 with feed grain prices reducing by about 7% through 2023-24. The average soymeal import unit price remained largely unchanged over the same period.
4
79
Price
Prices for pig meat increased 6% year on year.
9
The price for porkers in eastern states was 5% higher to average 396 c/kg cw
c
for 2023-24.
26
The average price for pork has trended up by 30% since 2018-19, which was the year prior to the full global market impact of African Swine Fever in China.
9
The increased price for pork flowed through to retail prices with the consumer price index for pork consumers increasing by almost 5% over the twelve months to June 2024. At the same time it is estimated that domestic pork consumption per capita was 5% lower in 2023-24 from the prior year. 5
NSW production and eastern Australian porker and feed wheat price indices
- Meat produced
- Feed wheat price (RHS)
- Porker price (eastern Aust) (RHS)
Source:
ABS Livestock Products (2024)
,
ABARES (2024)
,
APL (unpublished)
Trade
Pork exports have been strong in 2023-24 with the value up 50% year on year, to total almost$30 million. The volume of exports were up just over 26%. This growth in exports was driven by exports to Singapore and Philippines which increased substantially in value terms by 170% and 116% respectively. The unit value of product to Singapore averaged $14,200 per tonne with the total value of these exports $13.2 million in 2023-24. Exports to the Philippines, NSW's largest market in volume terms, totalled 2,238 tonnes sw
b
in 2023-24, although the unit value of product for this market is lower and averaged $3,962 per tonne sw
b
.
79
NSW pork exports by value
- Singapore
- Philippines
- New Zealand
- Malaysia
- Korea, South
- Papua New Guinea
- RoW
Source:
S&P Global (2024)
NSW pork exports by volume b
- Philippines
- Singapore
- Malaysia
- Korea, South
- New Zealand
- Vietnam
- RoW
Source:
S&P Global (2024)
Imports of pork increased 12% in value terms to $263 million year-on-year which reflects higher import prices. Volume of imports was 2% lower to a total of 45 thousand tonnes sw
b
. The value of imports from the United States was up 86% and up 67% in volume terms to total 18.9 thousand tonnes sw
b
. This resulted in the United States becoming the major source of imports in 2023-24, displacing previously higher ranked Netherlands and Denmark. Imports from the Netherlands in particular were lower in both value and volume terms year on year, by 32% and 46% respectively.
79
This shift reflects the improved export competitiveness of United States pork against European Union sourced produce with the latter experiencing lower production and higher prices. Total United States exports increased over 4% in 2024 from the prior year, while EU exports were flat.
143
144
NSW pork imports by value
- United States
- Denmark
- Netherlands
- Canada
- Ireland
- RoW
Source:
S&P Global (2024)
NSW pork imports by volume b
- United States
- Denmark
- Netherlands
- Canada
- Ireland
- RoW
Source:
S&P Global (2024)
Outlook
Chinese imports of pork are expected to return to pre-2018 levels which was when African Swine Fever (ASF) started to impact their domestic production. Pork imports to China are forecast to be 21% lower in calendar year 2024, to the lowest level in 5 years. In 2020, China accounted for 45% of total pork imports which accounted for 13% of their domestic demand. In 2024 it is estimated that imports will account for only 3% of demand as domestic production in China has recovered.
143
Major exporters to China during the ASF period, including the European Union, Brazil and the United States, are continuing to divert pork to other Asian markets such as Japan, South Korea and the Philippines. 143 Global production is anticipated to be relatively unchanged in 2024, which is 21% higher than the production low reached in 2020 when ASF and the COVID pandemic disrupted global supply. In the near term, the global outlook is for herd expansion in key producing countries supported by generally lower feed costs. 143 104 The combination of lower Chinese demand and increased global production in 2025 may lead to more export competition and some easing in prices. 155
Domestic pork production remains dependent upon key inputs costs such as feed costs, and pork pricing. While fresh pork imports are restricted due to biosecurity concerns, import prices of processed pork continues to be an important factor in domestic production planning.
DPIRD Initiatives in Focus
BioResponse NSW - improving communication pathways for biosecurity emergencies
The new BioResponse NSW app, developed by DPIRD, is a free app that provides up to date information such as real-time notifications and alerts about biosecurity emergencies, helping to link emergency management teams, key stakeholders and the public to manage major biosecurity responses in NSW.
New app helps everyone understand, prevent and manage NSW biosecurity threats
A new BioResponse NSW app is helping link emergency management teams, key stakeholders and the public to better inform major biosecurity responses in NSW.
The first of its kind, BioResponse NSW is a free, easy to use app that provides users with fast, reliable and up to date information about biosecurity emergencies. This includes real-time notifications and alerts to help people understand what they need to do in the event of a biosecurity emergency.
BioResponse NSW was developed over a two-year period by the NSW DPIRD Emergency Management Unit, supported by Local Land Services, Biosecurity Food Safety Systems and the NSW Department of Primary Industries and Regional Development (DPIRD) Digital Transformation team. It was co-designed with the hazard owners, emergency management experts and over 72 customers from across the state. Following thorough cyber-security testing, the app was released in June 2024 during the white spot response.
You can download the app from the Apple App Store and Google Play Store
Find out more about the BioResponse NSW
