Brazil: Poultry and Products Annual
Post forecasts production at 14.85 million metric tons in 2023, up three percent due to strong external demand and improved domestic consumption, setting a historical record. Consumption for 2023 is forecast at 9.85 million metric tons, growing two percent. Brazil is expected to continue to be the world’s largest exporter of chicken meat and Post forecasts a six percent increase for 2023 totaling 5 million metric tons. Overall, exports are expected to account for 34 percent of total production, with China being the top destination for Brazil’s poultry. Poultry prices were impacted by the rapidly rising input costs, which increased from 5 to 20 percent of production in the period of January to July 2022.
Japan: Poultry and Products Annual
Post forecasts Japan’s 2023 chicken meat production rises marginally and overcomes surging production costs as strong demand for chicken is driven by recovery in the food service industry under a boost from returning international tourism.
South Korea: Poultry and Products Annual
After two consecutive years of reduced chicken production in 2021 and 2022, Korea’s chicken production is projected to recover by 1.6 percent to 945,000 metric tons (MT) in 2023 due to increased chicken inventory and rising consumer demand. Korea’s chicken imports are projected to increase steadily to around 195,000 metric tons (MT) with increased demand from franchise fried chicken restaurants. U.S. poultry meat exports to Korea have been limited since 2018 due to unresolved trade policy issues.