China has become the largest buyer of Russian beef

Published 2021년 7월 17일

Tridge summary

China has become the largest buyer of Russian beef, increasing its supplies 20 times in the first quarter of 2021, according to the Russian Agricultural Bank's quarterly report. The country's share in Russia's beef exports exceeded 55%, with Saudi Arabia and Kazakhstan also among the leading exporters. The growth is attributed to the need to compensate for the drop in domestic pork production due to African swine fever. Despite a decrease in beef meat imports, Russia's beef production remained steady at 314 thousand tons, with a forecasted growth of 1.5% per year.

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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 (excluding Hong Kong, Macau and Taiwan) topped the list of the largest importers of Russian beef (including edible by-products of cattle), 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 tons in January-March 2020 to 3.66 thousand tons in 2021. Export of domestic beef in the same period increased 2.5 times from 2.6 thousand ...

Source: Agroxxi