The problem with China is not volumes; it is prices

The Chinese market remains complicated: high stocks, a lot of raw meat bought at high prices and now having to be sold at lower prices. There is also a lower than expected post-pandemic economic recovery, low consumer confidence, weakness of the yuan, oversupply of meat from supplier countries (especially Brazil), lower activity in restaurants and bars. Despite everything, imports remain very high, but at very low prices. “This is a price crisis, not a volume crisis,” a Uruguayan broker very active in the Chinese market told us months ago. In January-September of this year, China imported 2,035 million tons of beef, 5% more than the same period last year, for a value of US$ 10.4 billion, 20%. The main supplier was Brazil, with 843 thousand tons, with a share – in volume – of 41.4%. The second was Argentina, with 404 thousand tons and a 20% share, while third place is occupied by Uruguay, with 208 thousand tons and a 10% share. This website stores cookies on your computer. Cookies ...