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    Home > Food News > Food Articles > In the first half of this year, China's agricultural imports slowed down, and Uruguay beef bucked the trend and increased by 26%

    In the first half of this year, China's agricultural imports slowed down, and Uruguay beef bucked the trend and increased by 26%

    • Last Update: 2022-08-19
    • Source: Internet
    • Author: User
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    China's agricultural products import and export
     
    In the first half of this year, China imported 800,000 tons of pork, less than half of the same period last yea.
    The main reason is that from 2019 to 2021, as the impact of African swine fever on China's pig industry has been eliminated, China has resumed pork production, resulting in a significant drop in import.
     
    China's soybean imports fell 5% from a year earlier, especially in the month of June, when imports fell 18.
    Last year, China was expected to import 100 million tonnes of soybeans this year, but only 42 million tonnes were imported in the first half of this yea.
    Among them, a total of 25 million tons of soybeans were imported in June, a decrease of 23% over the same period of the previous yea.
    The main reason is that China already has huge grain reserves, which, according to the International Grain Council (IGC), are more than anywhere else in the worl.
    As of the end of June, China accounted for 324 million tons of the global inventory of 604 million ton.
     
    During the same period, China's barley imports fell by 33%, corn fell by 11%, and wheat fell by 5.
    The downward trend of wheat and corn started in the second quarter of this year, and the above two products also increased by 5% in the first quarte.
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    However, Chinese beef imports have maintained their growth momentu.
    In the first half of the year, China imported a total of 15 million tons of beef, a year-on-year increase of 7%, and the import value increased by 37%, from $436 billion to $579 billio.
    Beef imports from Uruguay increased by 26%, mainly excluding Brazil and Argentin.
    Uruguay is China's third-largest source of imported beef in both volume and value, after Brazil and Argentina, and ahead of the United States, Australia and New Zealan.
    In terms of product unit price, Uruguay beef prices still have room to increase, with the United States at US$9,936 per ton, Australia at US$8,670, Brazil at US$6,812, and Argentina at US$5,603, all higher than the average price in Uruguay of US$5,228.
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