October 3, 2008

China's total beef imports from January to August rose 78 percent on-year to 2,936 tonnes, the highest volume since 2004, according to the China Customs Bureau.

This result was in spite of the fall in beef imports during August, which registered only 154 tonnes, down 20 percent on-year.

Uruguayan beef accounted for nearly half of the imports during the period at 1,414 tonnes. Importers preferred Uruguayan beef to Brazilian beef due to the former's lower price. In the same period, China also imported 20-percent more Australian beef at 1,473 tonnes, while New Zealand beef imports remained stable.

Part of China's beef trade continues to be price-driven, and demand for quality imported beef is expected to strengthen in the near future due to China's growing income.

In addition, meat prices in August surged 8 percent on-year, with pork prices climbing only 1 percent during the year. Seafood product prices rose 16 percent and grains increased 8 percent.