WASHINGTON, DC – Japanese beef production is projected to remain flat in 2021 as marginally higher slaughter is offset by lower carcass weights. Falling wagyu prices due to oversupply is expected to lead to slightly lower calf production in 2021. According to a new report from USDA’s Foreign Agriculture Service (FAS), Japanese beef consumption is projected to recover in 2021 after a slowdown this year. Beef imports will remain flat as traders maintain buffer stocks against future market shocks. Pork production in 2021 is estimated to increase around one percent as producers rebound from a Classical Swine Fever outbreak in 2018. Pork consumption on the island nation will remain strong as rising household consumption offsets declining foodservice demand. Expanding pork stocks will put downward pressure on imports in 2020 and is projected to limit 2021 growth to less than half a percent.
(SOURCE: Foreign Agriculture Service)