March 1, 2013

During January, China imported a record volume of beef to 18,489 tonnes swt, an increase of 812% on-year.

While the majority (97%) was frozen product, at 17,896 tonnes swt, the proportion of chilled beef increased to 3% during January (593 tonnes swt) from just 0.4% in January 2012. China also imported a record volume of sheepmeat during the month, reaching 22,253 tonnes swt (up 243% on-year).

Beef imports from Australia surged to 8,964 tonnes swt during January - 4% higher than the record Chinese monthly imports from Australia set in November 2012 (8,660 tonnes swt). Australia has dominated the chilled beef supply to China, with imports during January climbing to 592 tonnes swt. Frozen beef imports from Australia during January also jumped to 8,372 tonnes swt, from only 514 tonnes swt in January last year.

While beef from Australia made up 48% of the overall Chinese imported beef intake during January, volumes from Uruguay and New Zealand also increased. Uruguay was the second largest supplier during January, rising 699% on-year, to 4,716 tonnes swt, with the volume from New Zealand totalling 2,983 tonnes swt - up from 265 tonnes swt in 2012. 

Sheepmeat imports from New Zealand during January increased almost four-fold on January last year, to 12,527 tonnes swt, with volumes from Australia increasing 186% on-year, to 9,295 tonnes swt.

Chinese boneless beef retail prices consistently increased during 2012. Carrying this momentum, beef retail prices in January 2013 hit an all-time high, averaging at RMB55.71 (US$9) per kilogramme, up 6% on the past month and 33% on-year (Ministry of Agriculture of the People's Republic of China). Bone-in sheepmeat retail prices also reached record levels, at CNY59.78 (US$9.6) per kilogramme, up 4% on December last year and 20% on-year. Average boneless pork retail prices for January rose 6% on the previous month, to CNY26.50 (USS$ 4.3) per kilogramme, but remained 5% lower on-year.