Government support measures for Chinese pork producers are expected to increase the number of livestock and reduce imports this year.
LOS ANGELES, Jan. 20, 2022 (GLOBE NEWSWIRE) -- China, the world’s largest pork market, imported 2.8M tonnes of pig meat worth $8B from January to August 2021, a recent report from IndexBox states. Compared to the same period a year earlier, the volume of imports remained nearly unchanged, while in value terms purchases grew by 3%.
Pork supplies from the U.S. dropped by 36% to 340K tonnes, while Spain and Brazil sharply boosted their exports to China. Against the same period of 2020, purchases from Spain increased by 70% to 900K tonnes or by 76% to $2.6B in value terms. Supplies from Brazil rose by 25% to 360K tonnes or 21% to $1.2B in monetary terms.
In 2022, China’s pork imports are projected to drop by 5% due to rising domestic pork production. The Chinese government is expected to support large pig farming companies to keep expanding their herds.
China’s Pork Imports Statistics
Pork imports into China soared from 2.0M tonnes in 2019 to 4.3M tonnes in 2020. In value terms, purchases skyrocketed from $4.5B to $11.9B.
Spain (934K tonnes), the U.S. (696K tonnes), and Brazil (481K tonnes) were the leading suppliers of pork to China, with a combined 49% share of total imports.
In value terms, the largest pork suppliers to China were Spain ($2.7B), the U.S. ($1.6B) and Brazil ($1.6B), with a combined 49% share of total supplies.
In 2020, the U.S. recorded the highest shipment growth rate among the leading suppliers. Pork imports from America rose threefold in value terms.
The average pork import price amounted to $2,761 per tonne in 2020, jumping by 22% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the highest prices were recorded for prices from Brazil ($3,254 per tonne) and Denmark ($3,009 per tonne), while the costs for the U.S. ($2,351 per tonne) and Canada ($2,369 per tonne) were amongst the lowest.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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Companies Mentioned in the Report
Muyuan Foodstuff Co., Wens Group, Smithfield Foods/WH Group, Zhengbang Group, New Hope Group, Charoen Pokphand Foods, Techbank Food Co., Triumph Foods, Sichuan Dekon Group, BRF S.A., Pipestone System, Seaboard Foods, Twins Group, Yangxiang, Cooperl, Iowa Select Farms, DaBeiNong, COFCO, Vall Companys Group, Seara Foods, Aonong Group, The Maschhoffs, Miratorg, Aurora Alimentos COOP, Prestage Farms, JBS, Prestage Farms, Carthage System, AMVC Management Services, Maxwell Foods, Tyson Foods, TriOak Foods, Schwartz Farms, Country View Family Farms, Holden Farms
Sources
China - Pork (Meat Of Swine) - Market Analysis, Forecast, Size, Trends and Insights
World - Pork (Meat Of Swine) - Market Analysis, Forecast, Size, Trends and Insights
World - Meat - Market Analysis, Forecast, Size, Trends and Insights
World - Meat and Poultry - Market Analysis, Forecast, Size, Trends and Insights
Spain - Pork (Meat Of Swine) - Market Analysis, Forecast, Size, Trends and Insights
