Australian Lamb Meat Competes With Uruguayan Lamb Meat in China in W49

Australian sheep supply in China is posing competition to Uruguayan meat as prices are similar. In W48, Chinese importers bid for Uruguayan lamb carcasses in a range of USD 3.6-3.8K/ton CFR, but in W49 lamb carcass sales of 9 to 24 kg were above the USD 4K/ton CFR. Starting from January 2023, Australian lamb carcasses will enter the Chinese market with 0% tariffs, creating strong competition for Uruguayan lamb carcasses as it enters China with a 15% import tariff.