Meat to China: A crisis of prices, not volumes

Frozen Bone-In Beef
Frozen Boneless Beef
Market & Price Trends
Published Dec 20, 2023

Tridge summary

China's beef imports in October 2023 decreased by 12% compared to the previous year, marking the third consecutive month of decline. Despite this, imports for the year are 3% higher than the previous year. The CIF import price for boneless frozen meat averaged about US$5,034 per ton in October, with the United States, Australia, and Brazil being the leading suppliers.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Last October, China imported 224 thousand tons of beef, 12% less than the same month last year. Volume is still very high, but reflects a decline for the third consecutive month. In the accumulated 2023, imports are 3% higher than in January-October 2022. The CIF import price of boneless frozen meat, the most representative item, averaged about US$5,034 per ton (US$/ton) last October, 32% below the peak of prices in July of the year. last, when it touched 7,400 CIF dollars per ton. What a broker said more than a year ago continues to be verified: “This is a price crisis, not a volume crisis.” In the line of boneless chilled meats, which represents only 2% of Chinese imports, Australia leads with 25,500 tons (+31%), followed by the United States with 14,750 tons (+12%), New Zealand with 7,781 tons and Argentina with 1,274 tons, always considering the January-October period of this year. The CIF price of Australian chilled meat in this period is US$11,234, that of the United States ...
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