Pork imports China slows down

In total, the country imported approximately 470.000 tons of pork in May, including by-products. It is the first decrease in Chinese import figures this year. In the previous month, a new record of meat was imported with 550.000 tons.

Even when we compare the figures with the same period last year, a decrease is noted for the first time. In total, China imported 7% less pork in May than last year. In the first 5 months of the year, China imported a total of approximately 2,5 million tons of pork, including by-products. Compared to the same period last year, this is an increase of 220.000 tons, or +10%. The import value amounted to €5,69 billion and increased by 26,7%.

Domestic stock
The fact that less pork was imported has everything to do with domestic production. In recent weeks, domestic production has increased significantly, which is partly why Chinese prices have fallen significantly.

The Chinese pork price has now started to recover. A low was reached on June 21 and since then the price seems to have started an upward trajectory again. China is still struggling with African swine fever. New outbreaks have caused many pigs to be slaughtered as a precaution and analysts expect this to be the reason behind growing domestic production. 

If the recovery of Chinese pork production is short-lived, it is expected that imports will rise again in the coming months.