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13

2022

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08

18% of US Beef Exports Were Destined to the Chinese Market in H1 2022

Source:

BTC

The US beef exports maintained at 100 thousand tonnes since Mar this year.

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The US beef exports maintained at 100 thousand tonnes since Mar this year. The high level for consecutive months also caused growth of 8% achieved by the US beef exports in the first half of this year compared to the same time last year, and the export volume in the first half of 2022 reached 593 thousand tonnes. The export value during the same period surged 34% to 5.6 billion USD, which meant that one tonne of beef exported to the overseas countries costed 9,378 USD, up 1,822 USD/tonne from the year-ago level.

From the specific data, the US beef exports to most destinations showed YoY growths, especially to the Chinese Mainland. In recent years, the export volume to the Chinese Mainland increased year by year, and was recorded time and again. The market share of the Chinese Mainland expanded gradually. The share was less than 5% in 2020 and before, but in 2021, it rose to 16% and squeezed into the top three among the US beef export destinations.