January 2024 China Mutton and Live Sheep Import and Export Trade Report

Mutton

China

Market & Price Trends

Published Mar 26, 2024

Tridge summary

In January 2024, China's mutton market saw significant activity with a 17.94% year-on-year increase in mutton imports reaching 40,100 tons, despite a slight month-on-month decrease. Australia and New Zealand remained the primary sources, accounting for 96.03% of the imports, mainly consisting of frozen bone-in sheep meat. Beef imports notably surpassed mutton, setting a record high at 301,400 tons. The mutton import market also experienced a notable increase from Uruguay and Chile, alongside a sharp decline in the average CIF price of mutton. Live sheep imports surged, primarily from Mongolia and New Zealand, while the export volume of mutton and live sheep saw substantial changes, with a significant increase in mutton exports, mainly to Hong Kong, and a drastic decline in live sheep exports. The fluctuations in the market are highlighted by changes in import volumes, CIF prices, and the dynamics of export volumes and values.

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

1. Mutton import situation (1) Total mutton import volume and total import volume In January, China's mutton imports totaled 40,100 tons, a large year-on-year increase of 17.94%, and a relatively stable month-on-month decrease of only 1.56%; the import value was US$132 million, a year-on-year and month-on-month decrease of 12.19% and 11.23% respectively. . China's total beef imports were 301,400 tons, a record high, 7.5 times this month's mutton imports, an increase of more than 30% year-on-year, and an increase of more than 20% month-on-month; the total import volume was US$1.438 billion, an increase of more than 10% year-on-year, and a month-on-month increase of more than 10%. The growth rate exceeded 20% (as shown in Table 1 and Figure 1). Table 1 Mutton and beef import volume and import value in January 2024 Figure 1 Mutton import volume and import value from February 2022 to January 2024 (2) Mutton imported varieties and categories The mutton varieties imported into China ...

Source: Foodmate