Canada: Beef imports up in China, down in Hong Kong

As of March, China imported 623,947 MT of beef with a growth rate of 20% year-over-year. Canadian beef import volumes grew 143% compared with the same period last year, reaching 3,594 MT and $24.4 million in value. Overall import values dropped by 6% as pricing returned to normal compared with the same period in 2020. China’s U.S. beef import volumes increased by 629% in the first quarter. U.S. imports replaced market share from Australia, whose import volumes decreased by 48% for the same period. The U.S. also gained access for 31 more beef plants to export to China. April beef prices, especially for grain-fed cattle, increased 10 to 20% from the previous month. Beef cuts in shortage are increasing in price, even more, especially short plate. Grain-fed beef prices are rising in Hong Kong — especially U.S. beef — due to shortages. Prices for popular beef cuts like rib-eye and striploin were up by 15 to 20% compared to April 2020. As of March, Canadian beef import volumes dropped ...