9% drop in China's meat imports
China's meat imports in August have dropped by 8.9% compared with the same month a year ago. The volume imported reached 758,000 tonnes and analysts believe that low prices in the domestic market are behind this situation. August imports were also lower than July’s figure of 854,000 tonnes.
Prices for pork have dropped vertiginously since the beginning of the year, going down by 50% in retail and, while live pigs have lost 70% in prices. According to the Chinese Ministry of Agriculture, the sock is felt mainly by small farmers, with losses reaching $100 per head. The government has stepped in to prop up prices buying domestic produced pig meat for its reserves. At the beginning of this month, officials in Beijing announced that several provinces have made new purchases for reserves while others are planning to buy pork in the coming months to further support producers.
For the first 8 months of the year, China imported 6.69 million tonnes of meat, up 1.7% from the same period last year.
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