China's meat imports, down 12.8% last month
China has reduced once again demand for meat imports, taking just 664,000 tonnes from the international market in October. This is the lowest volume in China's meat imports for the last 20 months, according to official data. The figure is 12.8% lower than the one reported in October 2020 and also down by 30,000 tonnes from the previous month.
Shipments in the first 10 months of 2021 were 8.05 million tonnes, down 1.5% from last year's volumes. Since 2018, China has increased constantly pork imports to cover the deficit in the domestic market as an ongoing ASF outbreak has wiped out more than 35% of the national pig herd. However, since 2020, the Chinese swine inventory has recovered and production has increased leading to a sharp drop in prices. As a result, pork imports have dropped this year along with prices in the domestic market.
Though pork prices rallied in October as colder weather boosted consumption, they are still less than half of what they were at the start of the year, or about 21 yuan ($3.28) per kg at wholesale markets, according to Reuters.
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