China's meat imports fell 12.6% yoy in November, according to today's customs data. This year's cheaper domestic pork limits demand for overseas supplies.
China imported 677,000 tons of meat in November, compared to 775,000 tons in the previous year, according to the General Customs Administration.
However, imports in November rose slightly from the October value of 664,000 tonnes.
Pork makes up the largest proportion of China's meat imports, but domestic prices have fallen this year after a surge in production that exceeded demand.
Pig prices have risen again since October as colder weather boosts consumption, but they are still around half what they were at the beginning of the year, or around 23 yuan ($ 3.61) per kg in wholesale markets.
Imports in the first 11 months of 2021 amounted to 8.72 million tons, 2.5% less than in the previous year, as the customs data shows.
Source
Hansa Terminhandel GmbH