Global: USDA predicts China's beef imports will decline in 2024

Published 2024년 5월 11일

Tridge summary

Global beef exports, excluding the United States, are projected to grow by 2%. China's beef imports are expected to decrease by 4%, but domestic consumption and production are forecast to remain stable. Beef exporters with excess inventory will look for opportunities in other markets. Australian beef exports are anticipated to grow by 9%, with East Asia and North America as the main markets. Brazil is predicted to remain the largest beef exporter, with a growth of 1% to 2.9 million tons in 2024. India's beef exports are projected to increase by 3%, fueled by demand from Southeast Asia and the Middle East.

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

Original content

Excluding the United States, global beef exports are forecast to grow by 2%. China's beef imports are forecast to decline by 4%, with domestic consumption expected to remain stable year-on-year and domestic beef production expected to grow by 2%. As a result, beef exporters with ample exportable balances will seek opportunities in other export markets in 2024. Australian beef exports are forecast to grow by 9%, as ample supplies and competitive prices drive beef exports to East Asia and North America. Strong import demand from the United States will support Australia's beef export growth, and U.S. beef exports to key East Asian markets are also expected to decline. Brazil is forecast to remain the world's largest beef exporter, but exports will only grow by 1% to 2.9 million tons in 2024. Strong demand from major trading partners such as the United ...

Source: Foodmate