China has become the largest buyer of Russian beef

Published 2021년 7월 16일

Tridge summary

China has emerged as the largest buyer of Russian beef, marking a significant increase of 20 times in the first quarter of 2021, with its share in total Russian beef exports exceeding 55%. This surge is attributed to the African swine fever outbreak in China, which has led to a need to import more meat. Other notable buyers include Saudi Arabia and Kazakhstan. Despite this, Ukraine, Vietnam, and Ghana have seen a decrease in supplies from Russia. Russian beef production remained stable at 314 thousand tons, while imports decreased by 4.2% to 55.9 thousand tons. The production is anticipated to grow at an average rate of 1.5% per year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China has become the largest buyer of Russian beef, it follows from the data of the quarterly report of the Center for Industry Expertise (TSOE) of the Russian Agricultural Bank on the state of the meat market in Russia. At the end of the first quarter of 2021, beef supplies to China increased 20 times, and the country's share in the total volume of Russian exports of this type of meat exceeded 55%. The three leading exporters of domestic beef also included Saudi Arabia and Kazakhstan. According to the results of the first three months of this year, China topped the list of the largest importers of Russian beef, surpassing the leader of last year's ranking Vietnam. The volume of supplies to the largest Asian market increased more than 20 times year-on-year from 179 thousand tons in January-March 2020 to 3 663 thousand in 2021. Export of domestic beef in the same period increased 2.5 times from 2.6 thousand tons in the first quarter of 2020 to 6.5 thousand tons in 2021. “The need ...

Source: Milknews