China's meat imports down 3.3% year-on-year in May

In May, the volume of MEAT imports to CHINA decreased by 3.3% year on year to 789,000 tons. Analysts of the world market attribute this to the fall in domestic prices for pork.

According to the General Administration of Customs of the People's Republic of China, in April-May, the volume of pork purchases in foreign markets decreased by 133,000 tons and approached the lowest figure of the last two years, recorded in November 2020 (775,000 tons).

The efforts of the PRC government to expand pig breeding assets, support farmers and replenish the state reserve of frozen pork to stabilize prices have resulted in an increase in production, which is observed this year.

Now the average domestic price of PORK-CN-TOT-D pork in the Chinese market is 22 yuan ($3.44) per kilogram. In the five months of 2021, it has more than halved.

At the same time, the PRC State Customs Service stated that in January-May, meat imports increased by 12.5% ​​year-on-year to 4.34 million tons.