Hard to swallow: Rising coarse grain and wheat feed costs have eaten into industry profits
Pig farmers have faced considerable challenges over the past few years. Pig meat consumption has slumped, although it has remained above long-term averages. The industry's main representative body, Australian Pork Limited's marketing campaigns have supported pork consumption by promoting fresh pork's health benefits. Additionally, global demand trends and improved weather conditions have caused the domestic price of pig meat to fluctuate significantly. The pig meat price surged over the two years through 2019-20 following an outbreak of African swine fever in China, which caused China to lose half its national herd. Supply has recovered since but pig meat prices still remain high. Overall, industry revenue has increased at an annualised 2.0% over the past five years and is expected to total $1.6 billion in 2023-24, when revenue will sink by an estimated 0.9%.
Industry operators primarily farm pigs that will be processed into pig meat.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Sunpork Pty Limited
- Rivalea Holdings Pty Ltd
Methodology
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