March 10, 2008

Slow beef production growth in China to result in four-fold increase in imports

Low production growth combined with strong demand is expected to increase China's beef imports by four-fold to 30,000 tonnes, according to a USDA attache report posted on the Foreign Agricultural Services Web site.

China's 2008 beef production is expected to increase by 3 percent to 7.7 million tonnes.

Interest in beef could be especially high during the Olympic Games to be held in Beijing in August 2008, the report said. Some beef may be supplied by South America since China has lifted its ban on four Brazilian states. Chinese beef exports are forecast to fall by four percent to 78,000 MT because of tight domestic supplies, high domestic beef prices, and appreciating Chinese currency, the Renminbi.