China reduces meat imports
Meat imports in China have slowed down in the first month of H2 2021. In July, 854,000 tonnes of meat entered the giant Asian market as a fall in domestic prices (-70% for pork) has limited the need for imports. The volume is down by 14.43% compared to July 2020 signals data released by the Chinese General Administration of Customs. However, compared to June 2021, the volume increased by 111,000 tonnes.
Meat imports in the period from January to July totaled 5.93 million tonnes, the data from China's General Administration of Customs showed, higher than the last year's 5.75 million tonnes in the first seven months of 2020.
The peak was reached in March when the need to restock the National Reserves cold storage lead to 1 million tonnes in meat imports. Analysts are expecting pork imports to fall by 50% over the next 5 months, as local supplies are now cheaper than overseas shipments and production is expected to increase. In the first half of the year, pork production in China was 36% up from a year ago, totaling 27 million tonnes, while the swine inventory rose by 30% to 439 million at the end of June.
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