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ANALYSIS: China’s Sept 2024 Meat Imports Slump 4.3% M-o-M; Ends Two-Month Growth Streak
China’s total meat imports, including variety meats fell in September 2024, amounting to 540,543 metric tonnes (mt), according to the latest preliminary figures from the General Administration of Customs of the People's Republic of China.
On a monthly basis, imports slipped 4.3% (-24,559 mt), partially affected by the shorter working month due to the observance of the Mid-Autumn festivities.
Annually, imports plummeted by 9.2% (-54,457 mt) in September, marking the eighth consecutive month since the start of the year...
ANALYSIS: China Set to Trigger Safeguard Mechanism on Australian Beef Imports for the 5th Time
Australian beef imports into China may soon face a 12.0% Most-Favoured Nation (MFN) tariff rate, as the Special Agricultural Safeguard (SSG) mechanism is set to trigger for the fifth time.
Following previous activations in 2018, 2019, 2020, and 2023, this tariff applies for the remainer of the year if imports from Australia exceed 178,418 mt in 2024.
Based on the data from the General Administration of Customs of the People's Republic of China, imports from Australia at the end of July...
ANALYSIS: China's July 2024 Beef Imports Rebound; Ebbing Economy Slashes Yearly Growth by 27%
China’s July beef imports rebounded 3.2% month-on-month (m-o-m) from June’s 13-month low at 215,322 metric tonnes (mt), according to the data released by the General Administration of Customs People's Republic of China.
This growth was led largely by higher imports from its key suppliers such as Brazil, Australia, the United States (US) and Uruguay. Earlier in June 2024, volumes plunged to a 13-month low, falling to 208,718 mt.
The higher July beef import figures were in line with the...
ANALYSIS: July 2024 Brings 4.8% Rebound in China’s Meat Imports After Extended Decline
China’s July 2024 meat imports, including variety meats saw a 4.8% monthly increase, reaching 539,913 mt, according to preliminary customs statistics from the General Administration of Customs of the People's Republic of China. This marked the first rise after three consecutive months of declines.
Earlier in June 2024, volumes slipped to a 12-month low, with volumes recorded at 514,957 mt.
The yearly figures underscored China’s ongoing challenges in the meat sector. Imports continued to plummet, shedding 20.5% year...
ANALYSIS: China’s 1H Beef Imports Grew 17% YOY; June 2024 Figures at 13-Month Low
China’s 1H beef imports gained 17% year-on-year (y-o-y) amounting to 1,438,837 metric tonnes (mt) or 1.43 million mt, the newly released General Administration of Customs People's Republic of China data indicated.
The world’s second largest economic powerhouse continued to source beef primarily from South America, with Brazil, Argentina, and Uruguay accounting for a substantial 73.4% (1.05M mt) of its supplier base. The Oceanic regions, including Australia and New Zealand, represented 15.0% (216,300 mt), while the United States contributed just 4.8%...
ANALYSIS: China’s June 2024 Meat Imports at 12-Month Low, 1H 2024 Fell 13.4% YoY
China’s June 2024 meat imports, including entrails, slipped to a 12-month low, with volumes recorded at 514,957 mt, as shown by preliminary customs statistics from the General Administration of Customs of the People's Republic of China.
Imports plunged 31.3% year-on-year (y-o-y) and fell 7.5% month-on-month (m-o-m) from May 2024's556,642 mt as the world’s second largest economy continued to struggle with low domestic consumption.
In the first half of 2024, China imported...
Meat Institute Opposes Section 301 Tariffs; Calls for Comprehensive Trade Agreements
In comments submitted to the U.S. Trade Representative (USTR) opposing the proposed modifications to the Section 301 actions, the Meat Institute called for comprehensive trade agreements as a long-term strategy to level the playing field for meat and poultry companies and to hold China accountable for its actions.
“The Section 301 tariffs and resulting retaliatory measures imposed by China have caused undue harm to U.S. agricultural exports, including meat exports. U.S. trade policy, such as the one proposed in this Section 301 action, should not inflict pain...
China Welcomes US Dairy Firms Expanding in the Country, Vice Minister says
China welcomes dairy companies from all countries, including the U.S., to expand their business in the Chinese market, Vice Minister of Commerce Wang Shouwen said on Tuesday.
Wang made the remarks when meeting with U.S. Dairy Export Council President Krysta Harden, the ministry said in a statement.
The visit came days after the ministry said China may impose provisional anti-dumping measures on pork imports from the European Union as part of a year-long probe that began on June 17...
ANALYSIS: China’s May 2024 Meat Imports Slip 3.35% Y-O-Y Over Weak Consumption
Preliminary custom statistics showed that China’s May 2024 meat imports (including entrails) were recorded at 557,000 mt, the latest General Administration of Customs People's Republic of China data indicated.
Imports rose 2.39% m-o-m from April 2024’s 544,000 mt. Market players believed this increase was largely driven by the influx of Brazilian material. On 12th March 2024, China approved the addition of 38 new production plants to receive imported meat from Brazil, leading to an increase...
ANALYSIS: Brazil's Beef Exports Reach Record Highs in May, China's Shares Decline
Brazil has achieved a historical record in beef exports as of May 2024, exporting an unprecedented 211,976 MT of beef. This represents an increase of 1.9% from the previous month and a surged 25.9% when compared to the same period last year. On a YTD basis, the total volume is up by 16.7%.
China remains the leading importer, purchasing 97,876 MT of Brazilian beef in May. However, this figure is slightly lower than April's 101,023 MT ,a 3.1% decrease, and corresponds to an 11.8% decline compared...
ANALYSIS: Brazilian Beef Export Volumes Show a Robust 25% Monthly Growth in April
Despite the general sentiment of a softened market from key export destinations for the Brazilian beef, exports in April demonstrated a significant upturn, with total fresh beef exports reaching 208,053 MT, a 25.1% increase from previous month’s 166,303 MT. The significant rebound in export figures from March have surprised some stakeholders given the persistent talk about a subdued demand and pressured prices. Particularly from the Chinese market, a major trading partner of Brazil.
April’s overall market undertone diverged by some means from the increased export figures...
UNLIMEAT Pulled Pork Wrap Now Available at All Starbucks Stores in HK
UNLIMEAT announced on the 16th the launch of its Pulled Pork Wrap at Starbucks stores throughout Hong Kong. The UNLIMEAT Pulled Pork Wrap is a fully plant-based product containing UNLIMEAT's pulled pork, along with refreshing carrot, vibrant red cabbage, and crisp lettuce, all wrapped together for a satisfying and guilt-free meal.
Since first entering Hong Kong in 2020, UNLIMEAT has expanded its presence by partnering with world class Chinese restaurants such as Mott 32, Crystal Jade, and Trust Congee King, providing these restaurants...
ANALYSIS: South American Beef Exporters Diversifying Beyond China In 2024
As we approach the end of the first quarter of 2024, a subtle yet discernible trend is emerging among major South American beef exporters, particularly Brazil and Uruguay. These countries are showing a tendency towards exploring attractive markets for their beef exports. This strategy doesn't signify a major shift away from China, remaining as the world's largest beef consumer, but rather an adaptive response to diversify their export destinations.
This trend becomes evident when analyzing the beef export data up to February 2024 (frozen, fresh or chilled)...
Another 38 Brazilian Slaughterhouses Can Export Meat to China
Number of license issuances in a single advertisement is the highest ever recorded in history
In the year in which Brazil celebrates 50 years of diplomatic relations with China, another 38 Brazilian meat processing plants were authorized to sell meat to the Asian country, according to a statement from the General Administration of Customs of China (GACC) sent to the Ministry of Agriculture and Livestock (Map) this Tuesday ( 12) .
38 licenses were granted, including eight chicken slaughterhouses, 24 cattle slaughterhouses, a beef thermoprocessing establishment and five...
Wen’s Food Group Reports Approx. $9 Bln Loss in Pig Business for FY 2023
Wen's Food Group, a major Chinese food conglomerate specializing in pig breeding, processing, and distribution of pork products, provided a detailed breakdown of its FY 2023 losses during a recent conference call with investors.
Previously, in January, Wen’s Food Group announced it expected a year-on-year loss between CNY 61-67 billion (approximately $9-10 billion) for FY 2023. The company attributed this loss largely to a decrease in the Chinese market hog and broiler prices...
ANALYSIS: January's Shifting Trends in Brazilian Beef Export Dynamics
The recently released Brazilian export data for January unveiled significant shifts in the beef market, signaling a slightly broader diversification of Brazilian beef export destinations early this year.
While China remains the dominant player, its share saw a slight decline, as frozen boneless beef exports to China dropped by 11.8% from the same time of last year, amounting to a massive volume of 96,329 metric tons (MT) compared to 98,857 MT for the previous January, aligned with a 9.49% reduction in the average price per MT. This decline in prices reflects...
China to Encourage Hog Farmers to Reduce Capacity After Price Slump
China will "guide" farmers to reduce hog production capacity as it steps up regulation of the industry, the agriculture ministry said on Tuesday, after an aggressive expansion drive led to an oversupply of pigs and heavy losses.
Big agribusinesses in the world's top pork producer have modernised farms and expanded pig herds so rapidly in recent years that a downturn in demand led to plummeting hog prices, mounting losses, and rising debt last year.
Farmers lost an average of 76 yuan ($10.60) per hog in 2023...
REPORTER: Tariffs Loom Based On Alleged Dumping Of Chinese Pea Protein Into The U.S.
This article was originally featured in the WINTER 2024 Edition of Urner Barry’s Reporter magazine.
In July, the US International Trade Commission (ITC) and Department of Commerce (DOC) launched an investigation into alleged dumping of pea protein that could result in higher tariffs. The investigation was prompted by industry participants in the United States, who issued a formal complaint stating that imports of pea protein from China are harming the U.S. domestic industry because the imports are unfairly subsidized and sold at price levels below...
Russian Pork Exports to China Gear Up Following Lifted Bans and Bilateral Protocol
In addition to Beijing scrapping regional restrictions for some Russian farm exports, the Russian Federal Service for Veterinary and Phytosanitary Supervision announced its plans to commence pork exports to China in January 2024. This follows a bilateral inspection and quarantine protocol in December 2023, which was signed during the 28th conference between the heads of government of China and Russia.
On 25 December 2023, Abi, a leading Russian processed meat producer, announced the initiation of product exports to China, marking the beginning of this new trade development...
JD.com Wins Antimonopoly Suit Against Alibaba
Alibaba Group was found to have abused market dominance and engaged in monopolistic practices, JD said, citing a court filing
Chinese e-commerce giant JD.com said it won a lawsuit against rival Alibaba Group Holding, which was fined 1 billion yuan ($140.7 million) over monopolistic practices.
Zhejiang Tmall Network, Zhejiang Tmall Technology and Alibaba Group were found to have abused market dominance and engaged in monopolistic practices, causing severe damages to JD.com, it said in a statement Friday, citing a Beijing court ruling.
The practice known as "choosing one between the two" forces...
KFC China Celebrates the Opening of Its 10,000th Store
Yum China Holdings, Inc. today celebrated the opening of KFC China's 10,000th store, marking a significant milestone in KFC China's 36-year growth journey in the country.
Situated in Hangzhou, KFC China's 10,000th store is located on the banks of the Beijing-Hangzhou Grand Canal, a historically important link connecting northern and southern China. Since opening its first store in Beijing in 1987, KFC has grown into the country's largest QSR brand in terms of system sales. This growth has been underpinned by a world-class in-house supply chain management...
McDonald's to Acquire Carlyle's Stake in McDonald's China
McDonald's Corporation (NYSE: MCD) and global investment firm Carlyle (NASDAQ: CG) today announced that McDonald's has agreed to acquire Carlyle's minority ownership stake in the strategic partnership that operates and manages McDonald's business in mainland China, Hong Kong and Macau.
The CITIC Consortium, mainly through its equity affiliate CITIC Capital, will maintain its controlling ownership stake. Upon completion of the transaction, the CITIC Consortium will continue to own 52%, and McDonald's will remain a minority partner while increasing its stake from 20% to 48% ownership...
China Issues Ban on Irish Beef After Atypical Case of BSE Confirmed
Beef exports to China from Ireland have been stopped after a case of atypical bovine spongiform encephalopathy (BSE) was detected in a bovine animal.
In a statement seen by Irish media outlets, the Department of Agriculture, Food and the Marine (DAFM) said that tests carried out at the department’s Central Veterinary Research Laboratory confirmed a case of atypical BSE on 3 November.
It is reported that the animal in question was a 10-and-a-half-year-old cow. It did not enter the food or feed chain...
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