The investigation has been over 5 years
China wants to clarify the question, whether it needs measures to protect its industry from imports of beef. For this purpose y government has started the current survey of the market from 2019 to mid 2024 year. Beijing responds to the request of the Chinese meat industry. They complain, that the rapid increase in imports of meat has caused a decrease in the price of meat in China, putting a burden on domestic producers.
At end 2024 year, beef in China was by 22 percent cheaper than two years previously and had achieved the lowest price since 2019 . At the same time, according to data from industry associations, imports of beef from the PRC in the first half of 2024 year, was by 106 percent. higher than in the same period 2019 year. The Department of Agriculture US projected for the whole year 2024 year the import volume was 3.9 million tons.
Divergent forecasts of Chinese beef
However in the same time the domestic production has also increased, driven by government actions. USDA estimates that Chinese produced beef in the whole country in 2024 year was 7.8 million tons. Chinese authorities reported total volume production in 2019 at 6.7 million ton. Additionally in the last years the willingness of consumers to buy, primarily because of the economic crisis in China.
In Brazil, the major supplier of beef to China, the investigation is raising at least moderate concerns.
Brazil’s Ministry of Agriculture has assured in an official statement, that it will defend the interests of Brazilian exporters.
He also wants to prove, that goods from Brazil in no way harm the Chinese economy.
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