China continues to buy large volumes of beef at low prices
At the recent Sial fair in Shanghai, importers offered increasingly lower prices, with the well-known arguments: meat consumption is weak, the liquidation phase of the bovine herd persists, the yuan has devalued, consumer confidence after of Covid-19 has been very deteriorated, there is an overproduction of pork and there are large warehouse stocks of imported beef.
In addition, China has been enabling new supplier countries and has also authorized a high number of new supplier plants in Brazil. They all work for China, a market where in addition to the price of livestock and beef falling between 12 and 15% in recent months, a record supply of 56 million tons of pork is recorded this year.
Although there is still a high stock of meat, it is observed that the production date of the imported meat that is currently being put on the market is increasingly recent, which would indicate that they have been distributed and selling the accumulated stocks. There is an improvement in the retail and food service market, and the prospects for these channels are set to improve, with a potential increase in the volumes operated and the prices paid.
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