CHINA IMPORTS MORE THAN 1 MILLION TONS OF BEEF A YEAR FOR THE FIRST TIME, NEARLY 30 PERCENT OF WHICH COMES FROM BRAZIL

According to data released by the General Administration Of Customs, China imported 105,000 tons of beef in last December, a total of 1.039 million tons for the whole year. This is the first time that China's imports of beef (excluding beef offal, the same below) have exceeded 1 million tons since the explosive growth in 2012. 

At present, China's meat consumption per capita is 60 kg or so, twice the world average, and has reached a relatively high level. The gap between beef supply and consumption has been widening every year since 2013 due to a sharp increase in domestic demand and a decline in beef cattle stocks on hand. According to industry statistics, the beef consumption gap reached 967,000 tons in 2017.

According to import data, beef imports in China took on a feature that the total amount of beef imports has been increasing rapidly year by year, and the pursuit of quality has been constantly improved. South America has been an important region supporting China's beef import growth in recent years. In just four years, China's beef imports from Brazil rose from 56,000 tons in 2015 to more than 300,000 tons in 2018. From 2016 to 2018, beef imports from Argentina also increased more than two times, to more than 170,000 tons. The market expects that South American beef exports to China will further increase, and China's beef imports are expected to reach 1.8-2 million tons by 2024. 

The Brazilian Beef Exporters Association (ABIEC) is optimistic that Brazilian beef exports volume will rise by more than 10% this year to set a record of 1.8 million tons, worth $7.2 billion. At present, 26 slaughterhouses have obtained the import license of beef from China. It is expected that the beef export to China will achieve a considerable growth, with an increase of 31%, and the export volume will reach 471,000 tons, a total of 1.8 billion US dollars.