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08

2022

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11

China Mainland Beef Imports Show YoY Growth in the First Three Quarters 2022

Source:

BTC

China's beef imports, especially from Brazil, Argentina, Uruguay and New Zealand, the top four source countries, all reached historical peaks in the same period.

 

China's beef imports, especially from Brazil, Argentina, Uruguay and New Zealand, the top four source countries, all reached historical peaks in the same period. 

 

The import volume of Brazilian beef reached a new high of 736,000 tons year-on-year growth of 8% in the first quarters this year, yet its market shares downsized to 37.9% from 39.3% same period last year. The import value surged to 5.17 billion dollars by 46% year-on-year. The average import price also skyrocketed by 1,860 $/T from 5,168 $/T last year to 7,027 $/T this year, with an increase of 36%.

 

Then the import of beef from Argentina in mainland China has maintained a high level this year. Although the import volume of beef from Argentina fell by 50,000 tons again, it still reached nearly 46,000 tons in September. In the first three quarters this year, China’s cumulative beef import volume from Argentina has finally exceeded 360,000 tons, reaching 361,000 tons up 2%, occupying about 18.6% of the beef import market share in mainland China with a year-on-year reduction of 1.7 pp. The import value jumped 41% to $2.06 billion and the average import price also jumped 38% year on year, with the price of 5,693 $/T.

 

The decline of Brazil and Argentina's beef import market share in the Chinese mainland indicates the increase of other markets, especially Uruguay, Australia, the United States and Belarus.

 

In the first three quarters of this year, Chinese mainland imported 287,000 tons of beef from Uruguay, an obvious increase of 22% on the basis of 235,000 tons in the same period of last year, accounting for about 14.8% of China’s import beef market, an increase of 1.3 percentage points year-on-year; the import value from Uruguay rose more than 60% year on year to $1.51 billion during the same period, with the average import price up 35%, or 5,270 $/T.