China's meat imports down 17%
China imported 694,000 tonnes of meat last month, down 17% from the same month last year. Data presented by the General Administration of Customs show a sharp decline for the third quarter of the year due to increased domestic production of pig meat. China imported 7.38 million tonnes of meat for the first nine months of the year, down 0.4% from last year’s volumes, according to the General Administration of Customs.
Meat imports from last month were also 64,000 tonnes lower month-over-month and is the lowest volume reported for the last 19 months. A constant decline in China's meat imports has been seen for the last three months, from 854,000 tonnes in July to 758,000 tonnes in August and, finally, 694,000 tonnes in September. Analysts believe that low prices for pork in the domestic market are behind this situation. Since the beginning of the year, pig meat prices have dropped by 65%, as massive liquidation was reported in pig farms in several provinces impacted by ASF outbreaks.
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