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China breaks its annual meat import record for the third consecutive month

Published May 26, 2024

Tridge summary

In April, China imported 224 thousand tons of beef, marking a 22% increase from the previous year and the highest quarterly import on record. Despite Brazil's ban in mid-February to mid-March of the previous year affecting import numbers, China still set a new record for 12-month imports at 2.9 million tons. The main suppliers were Brazil (40%), Argentina (20%), Uruguay (9%), Australia (9%), New Zealand (8%), and the United States (6%). The average price for frozen meat remained stable, with a minimal increase of less than 3% from January.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In April, China imported 224 thousand tons of beef shipment weight. Although they were 20 thousand tons less than in March, they were 22% higher than a year ago. In the first quarter it has an advantage over the 2023 equivalent of the same magnitude. In these comparisons, it must be taken into account that Brazil was banned from the Chinese market between mid-February and mid-March of last year, impacting the import numbers for April and May of that year. Meanwhile, in the 12 months ended in April, it achieved a new record in its imports with 2.9 million tons. Providers There were very few changes in the participation of exporters compared to March. Brazil maintained its market-share of 40%, which has decreased from 50% in December. Argentina reduced it from 23 to 20% and Uruguay dropped one point to 9%. From Oceania, Australia maintained 9% and New Zealand increased one point to 8%. The United States also increased one point, to 6%. Bolivia, the newest of these suppliers and the ...
Source: Agromeat
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