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07

2022

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11

Chinese Strong Demand for Beef Products in the First Three Quarters 2022

Source:

BTC

Because of strong demand from the Chinese market, beef imports from the Chinese mainland continued to grow overall this year.

 

Because of strong demand from the Chinese market, beef imports from the Chinese mainland continued to grow overall this year. Except for Q1, the monthly beef import volume of mainland China from April to September this year has successfully surpassed the level of the same period last year and reached a record high in the same period.

 

Moreover, the monthly beef import volume has remained above 200,000 tons for five consecutive months since May. Although the import volume of September declined slightly compared with the previous month to 248,000 tons, it is still at a historical high.

 

In the first three quarters of this year, the cumulative beef import volume of the Chinese mainland reached 1.94 million tons, continuing the trend of year-on-year growth in 2017 and increasing by 12% on the basis of 1.74 million tons in the same period last year. Imports also surged by 47%, surpassing $10 billion for the first time to $13.1 billion. During the same period, the average price of beef imports rose by around 1,626 $/T to 6,724 $/T, up 32% year-on-year and exceeding 6,000 $/T for the first time.