China's beef imports reached 1.57 million tonnes until October


However, low consumption figures have put downward pressure on prices and created stockpiles in cold storage units.

Posted on Nov 13 ,09:27

China's beef imports reached 1.57 million tonnes until October

Beef imports to China for the first three quarters of the year reached 1.57 million tonnes, of which 94% comes from top five suppliers in the market. Brazil's share in the Chinese beef market rose sharply, while Argentina, Uruguay, New Zealand and Australia have lost between 2% and 7% of their market share. At the same time, China's beef imports from Bolivia, Ukraine, Lithuania have increased significantly this year. The current market condition does not look so promising for beef exporters to China even if the last quarter of the year is seen as the peak in meat imports. An unexpected pig herd recovery is limiting beef consumption in China and prices have dropped in the last few months. Although the foodservice sector has begun to recover after the coronavirus crisis, large stocks of beef placed in cold storage units are forcing importers to destock rapidly to avoid any financial pressure by the end of the year. This situation is putting pressure on beef prices in China, which means that products delivered by Australia, Argentina or New Zealand may soon become less competitive in this market. According to Beef to China trading platform, foreign beef exporters have already lowered the future quotations within $350 to $500 per ton.
For 2021, is expected that secondary suppliers to have a larger share in the Chinese beef market due to the decline in prices. 

 NEWSLETTER - Stay informed with the latest news!


Similar articles


Mexico suspends tariffs on poultry imports for 1 year

The opening of the market includes several poultry products and will be in force for a period of ...

Read more Read more

Frozen snack food market to grow by $12.83 billion in 4 years

The global market for frozen snack food has a growth potential of $12.83 billion for the next 4 y...

Read more Read more

US animal protein market expects another rise in prices

The Federal Reserve Board has voted to increase interest rates by 50 basis points in an attempt t...

Read more Read more
Websolutions by Angular Software and SpiderClass