Domestic pork 13 consecutive decline China pork imports jump170% to record high

last year was affected by swine fever, Chinese pork prices soared, from a dozen yuan per kilogram in 2018 to 40 yuan per kilogram by the end of 2019vZAduring this period, in order to reduce pork prices, the authorities have also taken a variety of measures, such as increasing pork imports, stocking of pork, the resumption of pig farming and so onNow, these measures are finally workingvZADomestic pork prices 13 consecutive drop
vZAMinistry of Agriculture and Rural Affairs data show that the current national wholesale market pork prices have been reduced to 20 yuan per jin below, the national pig and pork prices have been 13 consecutive weeks of decline, compared with the highest period of price decline of 23%, a drop of about 6 yuan per cattyvZAMinister of Agriculture and Rural Affairs Han Changfu said that the current recovery of pig production momentum is good, to achieve this year's pig production target can be expectedOn the market side, the enthusiasm of the market subject is very high, with the recovery of pig production, the supply and demand relationship gradually improved, after the market pig prices will not rise substantiallyvZAPork imports jumped 170 per cent to record highs in April
vZAChina customs data showed that China imported a record 400,000 tonnes of pork in April, up nearly 170 per cent from a year earlier, as buyers seized the opportunity to store pork at low pricesChina is the world's largest consumer of porkvZA
China imported 1.35 million tons of pork in the first four months of this year, up 170.4 percent from a year earlier, after a sharp drop in domestic production pushed pork prices well above other markets vZA
African swine fever has reduced pig stock in China by at least 40 percent, cutting pork production and pushing pork prices to record highs vZA
China has been importing pork from overseas markets such as the United States The U.S is one of the cheapest markets in the world for pork, which initially fell as the new crown epidemic began to spread in the U.S., dampening demand vZA
Although Chinese pork prices have been falling steadily since early February, they are still about twice as high as a year ago and three to four times the price of U.S pork in March U.S pork prices soared in mid-April as U.S factories shut down vZA Rising U.S pork prices could lead to a drop in imports in the coming month, while Chinese pork prices continued to fall due to weak domestic demand vZA U.S pork exports to China hit a record high in January-March, according to the U.S Department of Agriculture (USDA) vZA China also imported 160,000 tons of beef in April, up 28 percent from a year earlier China's beef imports rose 54 percent to 680,000 tons in January-April, according to customs data vZA Pork imports will exceed 4 million tons this year
vZA CITIC Futures said in a report released this month that China is expected to import more than 4 million tons of pork by 2020, accounting for more than 10 percent of the country's pork supply vZA experts said that increasing pork imports is conducive to stabilizing prices, further stabilizing price expectations and easing the domestic consumption gap vZA data show that in the first quarter of this year, the total value of Chinese agricultural imports from the United States reached 35.56 billion yuan, of which grain increased 2.1 times and cotton grew nearly 50% But the most notable was the rise in pork imports, which rose 6.4-fold to 168,000 tonnes of pork imported from the US in the first quarter vZA the total value of these pork s $ 3.04 billion , a 16-fold increase At the same time, China has imported more than 100,000 tons of pork processing products from the United States vZA
U.S pork production has fallen 40 percent since May, but exports to China have jumped nearly 300 percent, according to U.S data vZA More importantly, although many Pork processing plants in the United States are currently closed, but the Chinese market has huge potential, demand is expected to rise further in the future, U.S pork producers still want to increase exports to China vZA