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2022

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11

The Imports of Beef Offal in Q1-Q3 Exceed That of Last Whole Year

Source:

BTC

The import volume of beef offal also run in a high level since this year with the rise of imported beef products.

 

The import volume of beef offal also run in a high level since this year with the rise of imported beef products. The monthly beef import volume remained above 3,000 tons from Jan to Sept this year, reaching a historical peak in the same period, even setting a record of above 4,000 tons in Aug. In the first three quarters of this year, China mainland imported nearly 34,000 tons of beef offal products, up 61% year-on-year, which exceeds the total import volume of last year. Imports values doubled to $196 million from $95.58 million in the same period last year. The average import price broke $5,000 / ton for the first time, up 28% year on year, reaching about $1,255 / ton to $5,790 / ton.

 

In the first three quarters 2022, more than 70% of China's beef imports, or about 24,000 tons, came from Uruguay and the United States. In particular, beef offal imports from Uruguay have remained above 1,000 tons each month since July last year, only falling to 965 tons in Sept this year. It's the first time for beef offal import volumes rose to more than 10,000 tons in Q1-Q3 2022, or nearly 13,000 tons up 3% YoY. Imports value doubled from a year earlier to $80,820 and the average import price surged by 1,744 $/T to 6,447 $/T.

 

In recent years, beef offal imports from the United States have grown rapidly. Last year, it became the third largest source of beef offal imports to China mainland with an annual import volume of 6,787 tons. 

 

In the first three quarters of this year the US enjoys almost 12,000 tons of beef offal exporting volume to China mainland, being the second largest import source with a jump growth. It accounted for 34.3 % of the Chinese mainland's beef import market, less than 3 p.p. (2.7%) behind Uruguay. Recently, a number of US plants have been suspended from exporting beef products to China because Ractopamine was detected. The subsequent imports of beef products from the US may be affected to some extent.

 

The monthly import volume of beef offal products to mainland China from New Zealand has been below 1,000 tons, between 400-800 tons this year. The cumulative imports in the first three quarters were 5,465 tons, roughly the same as in the same period last year showing only a slight increase. However, the market accounted for 16.1% in the same period, decreasing by 9.7 p.p. YoY. Imports from China reached $29.53 million by 24% YoY, with an average import price of $5,404 /ton, rising by $1,035 /ton year-on-year.