Brazil: Chinese beef imports exceed 428 thousand tons in the first two months of 2023

Published Mar 20, 2023

Tridge summary

In February, China achieved a record in beef imports, with a significant increase in both volume and value compared to the previous year, positioning it as the world's largest beef protein importer. The first two months of 2023 saw a 36.1% rise in beef imports, reaching over 428.3 thousand tons, and a 15.9% increase in value, surpassing US$ 2.3 billion. The economic reopening in China is anticipated to further fuel local consumption, but the recent suspension of Brazilian beef exports is expected to temporarily reduce the total imported volume.

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

Original content

The result was the highest in history both in volume and in value transacted for the month of February, reaffirming China's position as the largest global importer of beef protein. Over the months of January and February of the current year, more than 428.3 thousand tons of beef were landed in Chinese ports, an increase of 36.1% compared to the same period of the previous year (YoY). The value transacted in this mega-operation exceeded US$ 2.3 billion, registering a growth of 15.9% compared to the first two months of 2022 (YoY). In 2023, China's accelerated economic reopening has the potential to further boost local consumption, given that trade, tourism and similar segments are among those most linked to the consumption of imported beef. However, the effect of the recent suspension of Brazilian beef protein exports to China should reduce the total volume imported in the coming months, given that Brazil represented around 46% of the total unloaded at Chinese ports in 2023 and ...

Source: NoticiasAgricolas