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08

2022

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11

Poultry Imports Declined in the First Three Quarters of 2022, Yet Its Import Price Increased Significantly

Source:

OIG+X

China imported 1.018 million tons of poultry meat and offal products showing a YoY decrease of 5.9%, yet its import price increasing 24.8% compared with last year affected by rising global chicken prices.

 

China imported 1.018 million tons of poultry meat and offal products showing a YoY decrease of 5.9%, yet its import price increasing 24.8% compared with last year affected by rising global chicken prices.

 

As for the monthly import volume, Jan saw 120,000 tons imported, while June to Sept saw the average import volume between 110,000 to 120,000 tons each month. In Sept, China imported about 112,000 tons of poultry products, down by 4.0% compared with last year.

Main source markets in the first three quarters of 2022 are Brazil, the United States, Russia, Argentina, Thailand, Chile and Belarus, accounting for 60.3%, 17.2%, 8.3%, 5.9%, 4.8%, 1.8% and 1.7%, respectively. Imports from Belarus and Russia increased by 32.4 percent and 3.2 percent, respectively.

 

From the perspective of the monthly CIF price, the rise in the price of chicken feet promoted the overall price increase of poultry products. CIF price showed an upward trend in Jan and the rise accelerated especially after June. CIF price for imported poultry products was 16.91 yuan/kg in Jan, rising to 20.41 yuan/kg in June and surging to 25.98 yuan/kg in Sept showing a YoY growth of 55.6%. Among the products, chicken feet had a CIF price of 19.90 yuan/kg in Jan to 31.5 yuan/kg in Sept, with a YoY growth of 56%. CIF price of chicken wings products is 23.0 yuan/kg, up 13% year-on-year, while chicken cuts saw declined to 7.2 yuan/kg in Sept dropping 6% compared with last year.

 

In terms of imported poultry products, frozen chicken feet accounted for the largest share of imports. In recent years, frozen chicken feet, frozen chicken cuts with bone and frozen chicken wings are the main imported poultry products. From January to September of 2022, frozen chicken feet, frozen chicken wings and frozen chicken cuts with bone were imported 508,000 tons, 245,000 tons and 196,000 tons respectively, accounting for 49.8%, 24.0% and 19.2% of the total imports, accounting for 93.1% in total. Frozen chicken feet and frozen chicken wings increased by 6.0% and 5.0% respectively year-on-year, while frozen chicken cuts with bone decreased by 26.3%. In 2021, the import volume of frozen chicken feet reached 674,000 tons, a year-on-year increase of 27.6%, followed by the import volume of frozen chicken wings and frozen chicken pieces with bone of 339,000 tons and 326,000 tons, respectively, down 20.3% and 24.3%, accounting for 45.5%, 22.9% and 22.1% of the import volume of poultry products, respectively. The proportion of frozen chicken feet increased by 11.5 percentage points compared with the previous year, while the proportion of frozen chicken cuts with bone and frozen chicken wings decreased by 5.9 pp and 4.3 pp respectively.

 

A total of 612,300 breeding chickens were imported from Jan to Sept, decreasing 47.1% year-on-year. The source countries were the United States, New Zealand and Canada, accounting for 79.9%, 15.9% and 4.2% of the total imports, with a YoY drop of 14.1%, 82.3% and 29.7% respectively.