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The peak consumption season is approaching and prices are bullish
.
Exported 91,000 tons to China in July
In 2020, China's beef imports come from 29 countries including Brazil, Argentina, Uruguay, Australia, and New Zealand, among which Brazil is the largest source of imports, with an import volume of up to 848,400 tons, accounting for 40%
.
.
In the first half of 2021, according to data released by the Brazilian Meat Exporters Association (ABIEC), in July 2021, Brazil's beef exports to China hit the highest monthly transaction volume in 2021, at 91,000 tons
.
In the first half of the year, Brazil exported a total of 399,000 tons of beef to China, a year-on-year increase of 9.
6%
.
.
In the first half of the year, Brazil exported a total of 399,000 tons of beef to China, a year-on-year increase of 9.
6%
.
Compared with the same month in 2020, Brazil's August beef exports increased from 191,141 tons to 211,850 tons, an increase of 11%
.
Compared with the same period last year, operating income has increased by 0.
56% to 1.
175 billion US dollars
.
.
Compared with the same period last year, operating income has increased by 0.
56% to 1.
175 billion US dollars
.
The data was released by the Brazilian Abrafrigo Association on Saturday 4th according to data from the Secretariat of Foreign Trade of the Ministry of Economic Affairs (Secex)
.
Abrafrigo said that this is the first time in the country's history that exports in a single month exceeded 200,000 tons
.
.
Abrafrigo said that this is the first time in the country's history that exports in a single month exceeded 200,000 tons
.
Export to China suspended
On September 4, Brazil has suspended beef exports to its largest customer, China, after Brazil confirmed two cases of "atypical" mad cow disease in its two domestic meat production plants
.
.
The Brazilian Ministry of Agriculture said in a statement that the ban will take effect immediately
.
According to the beef bilateral agreement signed by China and Brazil in 2015, when a beef cattle is found to be ill and there is a risk of mad cow disease, the export suspension mechanism is automatically activated
.
The purpose is to give China time to evaluate this issue
.
China will decide when to restart imports
.
.
According to the beef bilateral agreement signed by China and Brazil in 2015, when a beef cattle is found to be ill and there is a risk of mad cow disease, the export suspension mechanism is automatically activated
.
The purpose is to give China time to evaluate this issue
.
China will decide when to restart imports
.
Status of other countries
Argentina: Resolution No.
7/2021 signed by the Ministry of Agriculture, Livestock and Fisheries and the Ministry of Social Development, the Argentine government extended the beef export ban to October 31
.
The extension of the export ban means that exports during this period shall not exceed 50% of the same period last year
.
7/2021 signed by the Ministry of Agriculture, Livestock and Fisheries and the Ministry of Social Development, the Argentine government extended the beef export ban to October 31
.
The extension of the export ban means that exports during this period shall not exceed 50% of the same period last year
.
Australia: Since China-Australia relations have reached a deadlock, because China has detected that Australian beef does not meet safety and quality standards, China has drastically reduced its imports of Australian beef, which is difficult to reverse in the short term
.
.
United States: Due to the impact of local inflation, market data shows that in September, beef futures on the Chicago Board of Trade hit a new high since 2016
.
.
The proportion of Uruguay and Russia's exports to China has reached a record high
.
If Brazil's beef imports cannot be liberalized in the short term, there will be a significant supply gap in the imported beef market, which will be difficult for other countries to quickly replenish.
In the second half of the year, facing China's peak consumption season, beef prices have a clear upward trend
.
.
If Brazil's beef imports cannot be liberalized in the short term, there will be a significant supply gap in the imported beef market, which will be difficult for other countries to quickly replenish.
In the second half of the year, facing China's peak consumption season, beef prices have a clear upward trend
.
