Global: New records for Chinese imports, despite weaker forecasts

Published 2024년 3월 25일

Tridge summary

In the first two months of the year, China's beef imports surged by 25%, surpassing 500 thousand tons and setting new records. Despite Brazil remaining the top supplier, its market share has slightly declined, with Argentina and Uruguay stepping up. Bolivia has also made a notable entry, competing closely with the United States but at more competitive prices. However, a forecasted 5% decrease in China's beef imports for the year suggests a potential market slowdown, marking the first decline after nine years of growth. The relatively low average price for imports, especially frozen boneless meat, hints at underlying market weakness.

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

Original content

They registered an increase of 25% in the first two months, exceeding 500 thousand tons of beef. Among suppliers, Brazil gave up some space, which was taken advantage of by Argentina and Uruguay. Bolivia achieved similar volume as the United States, although at a lower price. China imported 301 thousand tons of beef in January and 227 thousand in February, according to simultaneous information released this Wednesday. This way of publishing data is common for these first months of the year, perhaps due to the interruption that the new year represents. The January figure marks a year-on-year increase of 32% and the February figure of 16%. In this way, the two-month period marks a year-on-year growth of 25%. On the other hand, imports represent a historical record for a month, surpassing last July's record of 295 thousand. But a historical record was also achieved for 12 continuous months. February ended with 2,843 million tons and surpassed last March's observation of 2,813. ...

Source: Defrentealcampo