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15

2022

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07

China's Imported Quantity and Value in June

Source:

According to the latest data from GACC, China’s import volume of meat (including offal) in June rebounded slightly to 603,000 tons on the basis of the previous month.

 

According to the latest data from GACC, China’s import volume of meat (including offal) in June rebounded slightly to 603,000 tons on the basis of the previous month.

 

There is still a gap of about 140,000 tons than last June, which was 743,000 tons. But it is the first time this year that the monthly import volume has exceeded 600,000 tons, with YoY decline has been further reduced to 19%, which was as high as 42% in March.

 

Affected by the reduction in pork imports, although the overall import volume was lower than last year, the average import price continued to rise. Data showed that meat imports totaled US$2.645 billion in June, with an average price of US$4,386 per ton, an increase of nearly US$1,000 per ton from US$3,430 per ton in the same period last year.

 

In the first half of this year, mainland China imported 3.456 million tons of meat, which was about 1.62 million tons less than the 5.078 million tons in the same period last year, a year-on-year drop of 32%.

 

In the first half of the year, meat imports totaled US$13.97 billion, down 15.5% YoY, but the average import price reached US$4,044/ton, up 24% YoY. 

 

The main reason for such a significant decline in meat imports belongs to sufficient domestic pork supply. In recent months, domestic pork prices have continued to rise. In this regard, relevant experts at the National Development and Reform Commission's June policy briefing stated that the pork market supply in the second half of the year is guaranteed, and pork prices do not have the basis for a sustained and sharp rise. In the first week of July, the national average price of live pigs was 22.02 yuan/kg, an increase of 19.6% over the previous week.