China buying all Brazilian beef available; meat prices in Sao Paulo at record high

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Chinese demand is increasingly swallowing up Brazil’s beef supply, pushing the country’s cattle prices to a record high. China’s hunger for foreign meat has shot up as an outbreak of African swine fever has reduced its domestic pig population and has sent it looking for substitutes.

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Chinese imports of Brazilian meat are up 23.6% for January to October against the same period in 2018, meatpackers association Abrafrigo says.

Wholesale beef prices in the greater Sao Paulo area have consequently hit an all-time high this week, according to University of Sao Paulo’s Cepea research centre, a benchmark think-tank.

 

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