Pork consumption in Brazil is set to reach record levels in 2024, according to projections by Cogo, an agribusiness intelligence consultancy. The estimate suggests that each person will consume, on average, around 103 kg of meat throughout the year, with pork experiencing the highest increase.
Significant Growth in Pork Consumption:
Although pork ranks third among preferences, the projection for 2024 indicates notable growth. The expected consumption is 21 kg per capita, marking a 4% increase compared to 2023. Previously less preferred, pork has become a viable option for consumers, mainly driven by lower prices and marketing efforts throughout the production chain.
Factors Driving the Change:
Thiago Bernardino de Carvalho, a livestock researcher at Cepea (Center for Advanced Studies in Applied Economics) at the University of São Paulo, highlights more aff ordable prices as the main reason for this preference shift. Additionally, marketing initiatives throughout the production chain have made pork more appealing to consumers.
Income Impact on Meat Choices:
Since 2008, chicken has been the most consumed meat in the country, with an expected per capita consumption of 49.5 kg per inhabitant in 2024. Rising income contributes to higher purchasing power, reflected in increased purchases of both pork and other varieties of meat.
Challenges and Uncertainties:
On the international stage, the conflict between Israel and Hamas raises concerns about food prices, especially due to its influence on oil prices. Although the outcome of the war is uncertain, Thiago notes that an increase in oil prices could affect the entire production chain, raising costs for fertilizers and animal feed. Uncertainty regarding demand in the Middle East also looms over the chicken and beef markets, with questions about the continuity of purchases and purchasing power during the conflict.
Amid these challenges and uncertainties, Brazil is gearing up for a potential record year in meat consumption, with pork leading the growth and gaining ground in consumer preferences.
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