March 8, 2023

USDA expects China will increase demand for beef and pork in 2023



The US Department of Agriculture's (USDA) Foreign Agricultural Service post in Beijing expects rising demand in China for beef and pork in 2023, with increased production for both meats and more impots for pork, Nasdaq reported.


The USDA GAIN report said this is because of China ending its restrictions on the zero COVID-19 policy.


The report projected that China will produce 55.5 million metric tonnes of pork in 2023, a marginal increase. After domestic COVID-19 restrictions were lifted, Chinese producers should be ready to meet increased consumer demand.


The price of pork will be a constraint on future growth in pork production. When the USDA anticipates higher prices in 2023, Chinese producers are anticipated to continue secondary fattening.


Pork imports are anticipated to increase by almost 4% to 2.2 million metric tonnes in 2023. Stronger consumer demand following the lifting of COVID-19 restrictions is said to be the main driver of growth. Higher domestic production is anticipated to restrain future growth.


Brazil's decision to halt beef exports to China at the end of February in response to a possible BSE detection, may have an impact on supply because alternative origin suppliers might not be able to completely fill the potential supply gap in 2023.


Pork and beef continue to be primarily exported from China to Hong Kong.


-      Nasdaq

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