Chinese meat prices remain high
The picture of the Chinese meat market remains promising for meat exporters, believe Rebecca Oborne, Analyst - Red Meat, AHDB. Although the Asian giant is taking more meat from all over the world, prices are at levels never seen in this market.
"A rise in import has not been enough to stop wholesale meat prices from rising. Pork prices have more than doubled over the past six months. Beef and lamb prices recorded some significant rises during 2018 and have been on a gentle climb over the past 12 months," she commented.
However, pork prices slowed their ascent in the last couple of months partially due to the Chinese government releasing pork from a national reserve onto the market and the trend may continue as Beijing officials are ready to cut duties on US pork.
However, poultry did not perform so well in 2019, as believed by analysts, potentially to increased supply coming both from imports and domestic production.