China pork exports 60% down
Chinese imports of pig meat have more than halved this year, according to trade data, but shipments to the world’s biggest pork consumer are forecast to grow next year.
Over the first nine months of the year, China imported 1.2 million tonnes of pig meat, a massive 1.8 million tonnes less than the same period last year, a 60% drop, as China rebuilds its pig herd, with Covid restrictions also a factor.
The UK has shipped 56,600 tonnes of this volume, while the EU has retained the lion’s share of Chinese trade, shipping 643,000 tonnes. Volumes from all key exporting nations have been considerably lower in 2022 than those seen over the last couple of years.
In Q3, Chinese imports (excluding offal) totalled 412,100 tonnes, an increase of 25,300 tonnes (6.5%) on Q2. This is back 375,600 tonnes (47.7%) compared to Q3 2021.
“As previously mentioned in our last China update, domestic pork prices have been rising since April,” said AHDB analyst Charlotte Forkes-Rees.
“Since early September, 127,100 tonnes of frozen pork reserves have been auctioned in a bid to curb these rising prices. Despite this, domestic prices have continued to rise as China moves into peak seasonal demand for pig meat and so it is likely that imports will increase towards the end of the year.”
Alistair Driver / Pig World
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