May 26, 2020

China imports record 400,000 tonnes of pork in April

China's customs data showed the country imported 140,000 tonnes of pork in April, a 170% increase compared to the year prior with buyers benefitting from the lower pork prices, Reuters reported.

Between January to April 2020, China imported 1.35 million tonnes of pork. Compared to the same period last year, this was a 170.4% increase after a sharp domestic production decline kept prices at record highs.

After an African swine fever outbreak decimated about 40% of China's swine herds, the country has approved new import sources to supplement surging demand. Pork prices in the United States are among the cheapest globally especially after the COVID-19 pandemic decreased demand for the meat there.

Pork prices in China have declined since February but it remains double over prices last year and up to four times higher than March US pork prices.

However, US pork prices have gone up in April, which could result in lower imports in the next few months. Lower demand for pork in China is contributing to declining prices.

The US Agriculture Department (USDA) reported record high pork imports by China in the first three months of this year.

China also purchased 160,000 tonnes of beef in April, a 28% increase compared to April 2019. Between January to April, customs data showed that China imported 680,000 tonnes of beef, a 54% increase when compared to the same period last year. 

-      Reuters