China grows strongly in beef imports this year, while 26 Argentine companies remain without authorization to sell

Fresh Whole Beef

China

Market & Price Trends

Published Mar 21, 2024

Tridge summary

Contrary to predictions of a decline, China's beef imports have surged in the first two months of 2024, with a 32% rise in January and a 23% increase in February compared to the same period in 2023. This growth has been advantageous for countries like Brazil due to their strong diplomatic and trade ties with China. However, Argentina, despite having businesses ready to export meat to China, is experiencing delays in approval, possibly due to unfavorable remarks about the Chinese political system by President Javier Milei.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Imports of beef from China continued to grow in the first two months of the year, despite the fact that most of the product arrived after the New Year celebrations, when demand soars. Indeed, the growth that occurred in February in Chinese purchases of the product is significant, which went against the projections of some analysts. Also a recent report from the United States Department of Agriculture (USDA) indicated a downward trend in purchases that is not occurring for now. According to data from Chinese Customs, surveyed by analyst Ignacio Iriarte, “in January 2024, China imported 300 thousand tons of beef, a historical record for a month and in turn it was 32% more than in January 2023. In February “In 2024, I imported 240 thousand tons, 23% more than in February of last year.” The data attracted attention because a moderation in purchases was expected. However, consumption of the product in that country continues to expand and neighboring countries like Brazil have the most ...

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