China cattle inventory shows signs of growth
Last year, China's imports didn't consist only in beef but also in livestock and there are signs of moderate growth in the national cattle inventory. Official statistics showed that the fattened stock amounted to about 45 million head, up 1.36 million head or 3.1% higher than the previous year. As of the end of 2019, the cattle inventory in China accumulated more than 91 million head, up 2.23 million head (2.5%) year over year. China's beef production in 2019 stood 6.67 million tonnes, up by 3.6% compared with 2018.
Australia was one of the major suppliers of live cattle in the Chinese market, followed by countries in Southeast Asia and Central Asia such as Thailand, Myanmar, and Kazakhstan. However, the beef production in China is still far from covering the domestic demand so beef imports are expected to remain strong in the following years. There are 25 countries approved to export beef (the bone-in and boneless) in the Chinese market. Over the last three years, three years, the bone-in and boneless beef imports by China have stabilized at 16% and 84%, respectively.
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