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2022

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08

The Gap Between Domestic Beef Supply and Demand in China May Continue to Expand

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Based on the huge consumption in Chinese domestic market, China has played a vital role in the beef industry worldwide.

 

Based on the huge consumption in Chinese domestic market, China has played a vital role in the beef industry worldwide. Since 2012, the beef supply and demand patterns in China have gradually turned to insufficient production from basic balance, the gap between supply and demand is expanding YOY. With the growing demand for beef, China’s beef import market expanded to countries in South America from Australia and New Zealand as well.

China’s annual beef yield overall showed a growth, especially since 2014, the volume increased YOY. In 2007, the beef yield was 6.26 million tonnes, which was the first time that the beef production exceeded 6 million tonnes. But the consumption of beef that year was 7.99 million tonnes. 

 

In 2021, the beef production only rose a little to 7 million tons, but the consumption increased rapidly to 9.3 million tons, we expect that the gap between supply and demand of beef products in China may continue to expand.