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28

2022

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07

Pork Products Imported Quantity All Dropped in June

Source:

According to GACC, China imported a total of 120,000 tons of pork (offal excluded) In June 2022, an MoM decrease of 7.7% compared with 130,000 tons of pork (offal excluded) in May and a YoY drop of 64.70%.

 

According to GACC, China imported a total of 120,000 tons of pork (offal excluded) In June 2022, an MoM decrease of 7.7% compared with 130,000 tons of pork (offal excluded) in May and a YoY drop of 64.70%. From Jan to Jun 2022 China totally imported 800,000 tons of pork (offal excluded), down 64.20% from the same period last year. 

 

For source countries, Spain, the U.S., and Brazil are the top three exporting pork products to China with 52,929 tons, 34,903 tons and 30,827 tons respectively in June, adding up to a total of 56.74%. For imported categories, other frozen pork accounted for the largest share of imports with about 90,783 tons in June, a YoY decrease of 58%. The import volume of fresh and chilled pork was 0.783 tons in June, a YoY slump of even 100%. Other frozen pork offal also shows a YoY decrease of 11%. All pork products’ imported quantity and value show a downward trend, which is basically due to the resumption of domestic production capacity and China’s weak consumption in the Covid-19 atmosphere.

 

Recently, pork prices stop rising to falling, which is considered mainly because the second-fattening pigs start being sold in the market. An official with the Ministry of Agriculture and Rural Affairs said on July 20 that China's pork supply in the second half of this year is secure and prices will not see a substantial increase.

 

Chen Guanghua, the agricultural official, said at a news conference in Beijing that pork prices rose in late June, but have declined recently. Chen said that seasonal reasons and a spike in demand, largely driven by a significant rise in pork consumption due to the resumption of schools, factories and catering businesses in June, were the main culprits behind the price hikes.

 

Other contributing factors include farmers holding out to sell at higher prices and the decline in pork imports due to COVID-19's impact on logistics, he said. Looking ahead, Chen said the pork supply in the second half of the year will be similar to the same period in 2021, as production currently remains within an appropriate range.