Fresh Whole Beef in China Down 9.6% YoY in W48 Due to Heightened Imports and Subdued Demand

The wholesale price of fresh whole beef in Guangxi, China, averaged USD 11.11/kg in W48, a significant 9.6% YoY decline. This YoY price drop is attributed to increased beef supplies from imports, coupled with subdued demand due to prevailing economic challenges. Forecasts indicate that beef prices will likely persist below the levels observed in previous years in the coming months and throughout 2024.