Compared to the estimate of October 2021, the USDA has revised China's import requirements downwards significantly in its study on the global meat markets published today. Instead of 4.75 million tons, the analysts at the US Department of Agriculture are now expecting an import volume of 4.2 million tons, which would correspond to a decrease of 5% compared to 2021. The USDA attributes the lower demand for imports to, among other things, the faster-than-expected increase in pork production. The stocks, especially in the large companies, continue to grow. As a result, the export expectation for the EU has been reduced from 5.1 million tons so far to 4.98 million tons. Other important export countries such as Brazil, Canada and the USA themselves are likely to export fewer quantities than previously expected as a result of the lower import requirements from the Middle Kingdom.
Source
VR AgrarBeratung AG
