June 8, 2011

Hong Kong's April beef imports drop 36%

Hong Kong has imported fewer volumes of beef for 12 successive months, with quantity during April falling 36% on year.

Imports during the calendar year to April 2011 fell 30%, to 36,748 tonnes swt, with falls registered in Brazilian, Uruguayan, Argentinean, Australian and New Zealand beef, despite an increase in imports from the US, Canada and China.

Hong Kong's imported beef market share profile has also changed in the past 12 months. During the calendar year to April, the US was the largest supplier to Hong Kong, with a 35% market share, while Brazil's share fell to 29%, influenced by their tight export supply and resultant high prices.

Lower beef production in New Zealand also affected supply available for export with a shift to dairy resulting in producers holding onto dairy cattle longer before turning off.

During the first four months of 2011, Australia continued to be the largest supplier of chilled beef in Hong Kong, accounting for 42% of the total chilled beef imports into the market.