Brazil - Post forecasts pork production to increase in 2011

Post forecasts pork production to increase in 2011 at an average rate of nearly 3 percent. USDA projections reflect current optimism of pork exporters for increasing exports during next year and assume that the worst of the global financial turmoil has past. However, traders remain cautious about the impact of the valuation of the Brazilian currency and access to credit for main importers, such as Russia.
Tuesday 14 September 2010 (7 years 8 months 9 days ago)
Post forecasts pork production to increase in 2011 at an average rate of nearly 3 percent. USDA projections reflect current optimism of pork exporters for increasing exports during next year and assume that the worst of the global financial turmoil has past. However, traders remain cautious about the impact of the valuation of the Brazilian currency and access to credit for main importers, such as Russia.
On the other hand, hog producers currently enjoy stability in feed prices, mostly from corn. Post also forecasts an increase in domestic pork demand because pork prices are currently competitive with beef prices. The pork council also continues with a strong public campaign to increase consumption of pork in the domestic market.


Trade:

Post forecasts pork exports to rebound by 2.4 percent in 2011 as demand from major importers is expected to increase. Brazilian pork exporters are also strategically focused on in new markets in Asia, such as China, and have begun to advocate for access to the US and Mexican markets.

Brazilian pork exports in 2010 are expected to decline by over 10 percent mostly due to reduced exports to major markets such as Russia and Hong Kong.

http://gain.fas.usda.gov/Recent%20GAIN%20Publications/Livestock%20and%20Products%20Annual_Brasilia_Brazil_8-30-2010.pdf

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